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A condo lease agreement is a legal 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 use common facilities, unless specified otherwise in the agreement. Both the owner and tenant hold equal landlord and tenant rights, making the lease legally binding upon signing. A condominium consists of individual units sharing common areas, typical in urban high-rises, with owners contributing to an association fee for property maintenance and related expenses.
