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A condominium lease agreement is a legally binding document between a condominium owner and a tenant, outlining the terms of renting a residential unit. Tenants must adhere to the rules of the condominium association and are granted rights to common areas and community privileges, unless specified otherwise in the lease. Condominiums consist of individual units that share common property rights, typically seen in residential high-rises. Apartment owners contribute to an association fee for property maintenance and management. Both parties hold standard landlord and tenant rights as per residential agreements.
