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What Are The Characteristics Of Zen King West Condos

Author: Zen King
by Zen King
Posted: Sep 11, 2017

The trendy of buying condominium is now seen among the people because of lots of characteristics offered by it. Condominium ownership will be considered as a hybrid form of possession as it falls outside of the traditional structures of having a property. Certain technical and legal characteristics help you in defining the condominium ownership. When it comes to the ownership of ZEN King West Condominiums, you will get an individual unit, which would be an enclosed space existing within the specified boundaries. Space may also be comprised of multiple rooms together with interior walls, which divide the rooms within that unit to give patio, balconies, and storage areas.

What arethe things included in the common areas?

Except the individual unit assigned to you, all other parts of a development are referred to as common areas or limited common elements. Keep it in mind that the ownership of common areas is shared by almost all the unit owners. Given below are those common areas:

  • All other parts of the buildings excluding units such as basement, elevators, ceilings, floors, halls, lobbies, roofs, foundation, and much more
  • All set ups for central services that include air conditioning, heating system, gas, electricity, and water as well
  • The parking areas and the land over which the development stands
  • Community facilities like boat docks, gardens, club houses, tennis courts, playgrounds and swimming pools

Condominium VS townhouses:

Even though townhouses and condominiums are appeared to be extremely similar, yet there are some legal differences exist between the two: they are as follows:

  • The unit owner of a condominium individually has only an enclosed space in the unit, whereas the unit owner of townhouses have unit in severalty, physical structures and a piece of land, which the building stands on
  • With respect to condominium developments, the common areas will be owned by almost all of the unit owners. In contrast, the common areas in the townhouse developments are owned by the association of homeowners.

Monthly dues:

Owners in each unit are responsible to pay monthly, quarterly or even annual dues to the development association in order to cover maintenance and management expenses, which are previously given in the ZEN King West Condos Brochure. Some fixed, as well as variable expenses like building insurance, landscaping, garbage removal, taxes, pool maintenance, and also funding of the reserve fund, will be covered by the dues paid. A special assessment might be charged to the unit owners with an aim to cover special improvements and projects like a repair or new roof to the furnace if the association fails to save surplus amount in the reserve fund.

Unit owner’s association:

A condominium association or unit owner’s association will also be established to allow several unit owners to maintain and manage the property together. Sometimes, the association would call for an outside property manager so as to handle the management. The condominium development has some conditions, covenants, and restrictions, which are nothing but the governing documents to find out the rules being obeyed by the unit owners and the way, by which the association operates.

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Author: Zen King

Zen King

Member since: Sep 11, 2017
Published articles: 1

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