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A condo lease agreement is a legally binding document between a condominium owner and a tenant, outlining the terms of renting a residential unit within a condominium association. Tenants must adhere to the association's rules and have the right to access common areas and other community privileges, unless specified otherwise in the agreement. Both the condominium owner and tenant retain the same rights as in any residential lease. A condominium consists of individual units that share common property, often found in urban high-rises, with owners contributing association fees for property maintenance and staff salaries.
