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A condo lease agreement is a binding document between a condominium owner and a tenant, specifying rental terms for a residential unit within a condominium association. Tenants must adhere to the association's rules and have rights to access common areas and community privileges, unless stated otherwise in the lease. Both the owner and tenant have standard landlord and tenant rights as applicable to any residential unit. A condominium consists of individual units that share common areas, with owners contributing association fees for property maintenance and related services.