Unit Owners, Residents and Tenants

Condo unit owners are individuals or entities who own a specific unit within a condominium building or complex. Ownership of a condo unit comes with a unique set of rights, responsibilities, and considerations that differ from owning a standalone property like a house. In addition to the private ownership of their unit, each condo unit owner also has a shared ownership of the common elements of the condominium ( usually proportional to the size or value of their unit). All owners have the right to vote on important matters (including the election of the Board of Directors) at the annual general meetings.

Unit owners are required to pay maintenance fees (sometimes called condo fees or strata fees) to the condo corporation. These fees are used to cover the costs of maintenance, repairs, utilities, and reserve funds for future capital expenses.

Residents of a condo can be owners (and their family or roommates) who live in their units or tenants who pay rent to the owner. Tenants have the right to use the unit and common areas, but they must follow the condo's rules and regulations, just like owner-occupants. Tenants usually do not have voting rights in the condo corporation but may have other obligations defined by their lease.