102Lease of a condominium unit, comprehensive, 7-09 2025

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  1. Click ‘Get Form’ to open it in the editor.
  2. Begin by entering the lease date at the top of the form. This is crucial for establishing the timeline of your agreement.
  3. Fill in the names and addresses of both the Landlord and Tenant. Ensure accuracy as this information is vital for legal purposes.
  4. Specify the Unit number and its location within the building. This identifies which property is being leased.
  5. Indicate the lease term by filling in the start and end dates, along with any specific duration in years, months, or days.
  6. Complete sections regarding rent amount, security deposit, and any additional fees or utilities that may apply.
  7. Review any riders attached to the lease that outline additional rights and obligations for both parties.
  8. Once all fields are filled out accurately, utilize our platform's signing feature to finalize your lease agreement electronically.

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A Standard Unit Definition is a notional description of what parts of a typical condominium unit are to be maintained and insured by the Condominium Board. This is important because the care, maintenance, and insurance coverage for all other parts of a typical unit is the responsibility of each owner.
A condo owner owns the space inside their condo and shares ownership interest in the community property, such as the floor, stairwells, and exterior areas. A general requirement of ownership is monthly payments to the condominium association in charge of property upkeep.
Pay condominium dues and other assessments. Share in the insurance of common areas. Comply with the restrictions of the condominium project. Give right of first refusal to the condominium corporation or unit owners in case of sale (if it is required in the master deed)
Condo owners are typically responsible for the following: Upkeep and maintenance of all interior fixtures (lighting, flooring, walls) Electrical systems. Appliances, including washers, dryers, ovens and microwaves.
Research comparable properties Consider size, age, condition and amenities. Gather data: Note the sale prices of recently sold condos. Compare listing prices of condos currently on the market. Websites like Zillow, Redfin and Realtor.com are excellent resources for this data.

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Condo owners are responsible for what goes on within their individual units, including maintenance and repairs. Beyond that, they must pay regular fees to a homeowners association (HOA). The fees contribute to the maintenance of shared common areas, building amenities and the exterior of the complex.
Owners are responsible for maintenance tasks in the interior of their units, including appliances, fixtures, and sometimes interior walls. Special assessments may be charged for major repairs outside the budget.
Obligations of Condominium Unit Owners. Owners must pay association dues and other fees levied by the condominium corporation for maintenance and operation. Unit owners are bound by the condominiums governing documents, which outline rules for property use and community living.