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In most communities, the majority of residents in condos are owners. There are some rental units, but for the most part the people that own the condo also live in it.
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What will be put into the Chicago Spire?
Condos and amenities for the use of the condo owners.
How do you calculate the Owner occupancy Ratio in a condo?
Learn how many of the units in a condominum are lived in by their owners, and then divide that number by the total number of units there.
How do standard home-owners policies differ from condo insurance policies?
There is some liability with condo insurance since a fire in your home could also do damge to a neighbor. Regular home owners wont cover that since buildings are sperated.
Have Florida legislators passed a law to force condo owners to pay their condo fees?
no but trying to If a condo owner falls more than 90 days in arrears of association, the right to use common areas can be suspended by the association until such dues are paid.
Is it mandatory that a board member of a condo be required to live in that same condo?
Read your governing documents to determine the residency requirements for board service eligibility. It is possible that the majority of the board must be resident owners, all members must be resident owners or there may be no residency requirement. There is no standard.
What are your legal rights when the condo board refuses to enforce the by-laws regarding noisy co-owners and their dog?
Answer this question...Many Governing Documents of common interest developments allow owners to enforce the documents directly if the board isn't doing their job.
Is the deductible on a condo-owners association insurance policy considered a loss assessment?
It often is considered that and often a person's policy on their personal condo will extend to pay up to $500 of the Association's deductible. Could be less than $500 depending on how much the Association's deductible is and how many COA members there are.
In today's market, is there much demand for a condo for rent?
Condo's are rarely rented except by their individual owners. The demand for housing is recovering, but prices are not. This of course is described as a buyer's market since the seller has little leverage.
What insurance is available for owners of condos?
If you own a condo, you can get basically the same type of insurance as a homeowner, depending on what type of condo you have. If you condo is more like apartments, you may be able to get insurance similar to renters insurance, while if you have a stand alone home, you can basically get just home owner insurance.
Which companies offer condos in Orlando?
Condos are usually sold by private owners. Which means not very many companies own the condos. If the condo is for sale you will see a sign out for it. Also look in the paper.
Can an owner of a condo pass on to the condo owners the park fee he was require to pay before building the condos?
There is no standard answer to your question. Read your governing documents to determine what is possible in your case. There may be special fees you pay when you purchase a unit from a developer, which may be passed along to subsequent owners, or not -- according to what's written in your declaration.
How many rooms does a condo have?
There is no standard.
