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A condominium lease agreement is a binding document between a unit owner in a condominium association and a tenant who rents the space. Tenants must follow the association's rules and have access to common areas and community privileges unless stated otherwise in the lease. Both the condominium owner and tenant maintain standard landlord-tenant rights. A condo is a property unit within a larger building that shares rights to common areas, often seen in residential high-rises. Each unit owner pays an association fee for property maintenance and related expenses.
