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A condominium lease agreement is a legally binding document between a condominium owner and a tenant. It outlines that tenants must adhere to the condominium association's rules and regulations while being entitled to access common areas and privileges of the community, unless otherwise specified. Condominium owners and lessees share landlord and tenant rights, similar to other residential leases. Condominiums consist of individual units within a larger property, commonly seen in urban high-rises, where owners pay association fees to maintain the property and cover associated costs.