In order to answer the question, “What is a condo?” it’s important to understand that there are two different types of condos. A condo hotel is typically a vacation home while a condominium is basically a unit within a larger complex that you can buy.

Though typically part of an complex, a condo may also be a townhouse or commercial warehouse. The term “condo” does not refer to the type of structure but rather the way the ownership arrangement is written. It means simply that occupants, whether residential or commercial, must purchase their units or vacate.

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