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A condo lease agreement is a legally binding document between a condominium owner and a tenant, outlining the terms of rental for a residential unit within a condominium association. Tenants must adhere to the association's rules and regulations and are entitled to use common areas and community privileges, unless stated otherwise in the agreement. Both the condominium owner and tenant possess the same rights as in any other residential lease. Condominiums are property units that share common areas, commonly found in residential high-rises, with owners contributing to an association fee that covers property maintenance and management salaries.
