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A condominium lease agreement is a binding document signed between the owner of a residential unit in a condominium association and a tenant. Tenants must adhere to the association's rules and have rights to use common areas and community privileges unless specified otherwise in the lease. Both the condominium owner and tenant possess the same landlord and tenant rights as any other residential lease agreement. Condominiums consist of individual units sharing common property rights, typically found in urban high-rises. Each owner contributes to an association fee for property maintenance and operational costs.