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It is also possible for a condominium to consist of single-family dwellings. Socalled "detached condominiums" where homeowners do not maintain the
exteriors of the dwellings, yards, etc. or "site condominiums" where the
owner has more control and possible ownership (as in a "whole lot" or "lot
line" condominium) over the exterior appearance. These structures are
preferred by some planned neighborhoods and gated communities.
In general, condominium unit owners can rent their home to tenants, similar
to renting out other real estate, although leasing rights may be subject to
conditions or restrictions set forth in the declaration (such as a rental cap for
the total number of units in a community that can be leased at one time) or
otherwise as permitted by local law.
Non-residential uses[edit]
Condominium ownership is also used, albeit less frequently, for nonresidential land uses: offices, hotel rooms, retail shops, group housing
facilities (retirement homes or dormitories), and storage. The legal structure
is the same, and many of the benefits are similar; for instance, a nonprofit
corporation may face a lower tax liability in an office condominium than in an
office rented from a taxable, for-profit company. However, the frequent
turnover of commercial land uses in particular can make the inflexibility of
condominium arrangements problematic.
Similar concepts[edit]
There are many forms of real estate ownership that are similar to
condominiums but not identical.
Classic privately owned detached houses on privately owned lots may be part
of a community that has a homeowner's association. Such an association
may administer a common park area, for example, or an access road, or
architectural standards for the houses.
A rowhouse is like a townhouse except that the houses are not physically
connected. They are independent structures that simply have no space
between them. Technically, they are detached.