What does the American word condo mean?

a : a unit in a multiunit structure (such as an apartment building) or on land owned in common (such as a town house complex) He lives with his wife …

What does condo mean in America?

A condominium, called “condo” for short, is a privately-owned individual unit within a community of other units. Condo owners jointly own shared common areas, such as pools, garages, elevators and outside hallways and gyms, to name a few.

Why do they call them condos?

Etymology. Condominium is an invented Latin word formed by adding the prefix con- 'together' to the word dominium 'dominion, ownership'. Its meaning is therefore 'joint dominion' or 'co-ownership'.

What is the full meaning of condos?

A condo, short for condominium, is an individually owned residential unit in a building or complex comprised of other residential units. Condo owners share a common space and often pay association fees to maintain the common space, amenities, and other shared resources.

What do they call condos in the UK?

In American English, an 'apartment building' is common, whereas it is referred to as a 'block of flats' in British English. A 'Condo' in American English is often referred to as an 'owner-occupied flat' in British English.

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Why do Brits say flat?

In the United Kingdom, Australia and many other parts of the world, the word 'flat' is used to mean an apartment or a house. It is derived from the Scottish word 'flet' which means the interior of a house. In Old English, flet means house or floor. The word flat may also be linked to the “flatness” of the abode.

What is a condo in Canada?

Condos in Canada

Condominiums, or “condos” for short, are like apartment buildings, but with a different ownership structure. Residents can own or rent units while a condo corporation owns and maintains the building's common elements (like hallways and lobbies) and exterior.

What is a condo in Australia?

Condos. In a condominium block, the dwellings are owned by different individuals, who team up to make a body corporate, which is also known as an owners corporation.

What is a condo vs apartment?

The biggest difference between a condo vs. apartment is ownership. An apartment is defined as a residence that is rented, often as part of a larger residential building. A condo is similar in structure to an apartment — usually a unit within a larger residential building — but condos are owned instead of rented.

What is another name for condo?

In this page you can discover 13 synonyms, antonyms, idiomatic expressions, and related words for condominium, like: condo, apartment house, condos, apartment, home, co-op, commonly owned apartment house, cooperative apartment dwelling, jointly owned dwelling, townhouse complex and townhome.

What are condos called in Europe?

In Europe, a flat is an apartment, either owned or rented, and colloquially means either a student's rented accommodation, or a second, smaller residence of a temporary nature e.g. 'I keep a flat in the City for a convenience. ' Sometimes the latter is called a pied-a-terre, literally (French) 'a foot in the ground.

What is difference between condo and townhouse?

Generally speaking, condominium owners have an individual unit within a larger complex. Townhouse owners, alternatively, may share a wall with their neighbors, but they also own the structure of the home itself and the property's surrounding land.

What does condo mean in NYC?

A condominium is a single real estate unit in a multi-unit development in which a person has both separate ownership of a unit and an undivided interest in the common elements of the building.

Why a condo is better than a house?

Condos tend to come with lower price tags than single-family homes. They offer significantly greater independence than renting, but you aren't on your own when it comes to maintenance and repairs. Plus, owning a condo gives you the chance to build equity you can use toward a down payment on your next home.

How many units is a condo in Florida?

Florida has roughly 1.5 million residential condo units — among the most of any state — and a highly lucrative condo and co-op industry with many powerful players, from management companies and developers to firms specializing in condo law.

What is a duplex in America?

A duplex is a building with two units separated by a shared wall. Duplexes can be side-by-side or with one above the other — they often look like two of the same home. A duplex is almost always owned entirely by one owner.

Why is it called a townhouse?

The origins of the word townhouse go back to early England, where the term referred to a dwelling a family (usually royalty) kept “in town” (meaning London) when their primary residence was in the country.

Why are condos cheaper?

Condos are often cheaper than townhouses, in part because they come with no land. The exterior of the units, plus the land around them, is considered a common area and owned collectively by all the condo owners in the community. Monthly cost and maintenance are the defining features of condos.

Can you rent condos?

Can you rent out a condo? This may seem like a simple question, but if you own a condominium, you probably know it's rather complicated to rent it out. Yes, you can - but there are rules landlords must adhere to in order to generate potential rental income.

How many condos are in the United States?

Today there are more than 30 million condominium units in North America a number that will continue to grow in the years ahead.

Is condo a Scrabble word?

CONDO is a valid scrabble word.

What is a flat called in Canada?

Apartment (suite, flat)

Usually includes 1 bedroom or more, a kitchen, a bathroom and a living room.

What is a detached house called in Canada?

Bungalows. Bungalows are a type of detached home. They typically have minimal stairs, with most living and sleeping areas on a single floor.

Whats a condo in Toronto?

A condo unit is owned by a separate condo owner. A company, called a condominium corporation, manages this condominium under the supervision of a chosen circle of condo owners who make up the condo board.