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Allen Park, Michigan - Condominiums & Townhouses search results Premier Listings

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Important Terms about Condominiums

Condominiums are popular among people who want to combine the most convenient aspects of apartments and home ownership. They can be an attractive option for those who no longer wish to rent or lease the property they live in. If you're thinking of moving into a condominium, you may be confused by the unique terminology you may run into, so let's define certain key terms associated with them.

  • Condominium - A type of multi-unit housing in which each unit is owned by its occupant, who in turn holds partial ownership in the other areas of the building. It differs from an apartment building in that the residents do not rent but own the units. Each owner is responsible for the sale of his or her unit. They can also rent or lease the unit to another party.
  • Common elements - The areas of a condo that collectively belong to its residents. These can include pool areas and laundry rooms. Limited common elements are those allocated to some but not all of the condo residents.
  • Condo association - An organization involved in regulating various aspects of the condominium property, such as making repairs. Condominium residents are typically required to pay a monthly fee, often called an assessment, to the association. The association can be made up of condominium owners or professional managers. Sometimes called a homeowners association.
  • Reserve fund - The money set aside by the condo association for maintenance and repairs.
  • Waterfront condo - A condominium built next to a body of water, such as an ocean, lake, or river. Due to high demand, waterfront condos sales usually command premium prices.
  • Townhouse - A type of housing arrangement in which houses are set in a row and share walls.
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    Allstate Insurance Company - Nicholas Schrock
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    Motor City Suites
    8200 East Jefferson Avenue, Detroit, MI 48214
    Luxury Detroit apartments & condos for rent. Corporate housing & medical pros welcome. 5 min to downtown. Pet friendly. Gated parking. 100% safe & secure.
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    (313) 782-3566
     
    User Review: "Great place to stay in detroit! perfect for business professionals, medical students or interns who need a safe and..."
    Jefferson Beach Marina
    24400 Jefferson Ave, Saint Clair Shores, MI 48080
    Jefferson Beach Marina is a destination within a destination. Centered on the Lake St. Clair Nautical Mile, surrounded by fabulous restaurants, shopping and attractions.
    (586) 778-7600
    Village Cooperative
    2220 Pittsfield Blvd, Ann Arbor, MI 48104
    We are a community of vintage houses in a 64-acre park-like atmosphere. Enjoy a walk around our scenic grounds, and you may just decide our community is for you! Our location is adjacent to many conveniences.
    (734) 971-0233
    Dupage Green Condominiums
    15823 Dupage Blvd, Taylor, MI 48180
    (734) 287-4915
    Kinyon Woods Condimunimus
    22243 Kinyon St, Taylor, MI 48180
    (313) 292-4832
    Dearborn Towers Condominium
    22700 Garrison St, Dearborn, MI 48124
    (313) 561-0097
    Chelsea Park Apartments
    25900 Chelsea Park Dr, Taylor, MI 48180
    (313) 462-0768
    The Village At Southtown Condo Assoc
    12619 First Ave S, Southgate, MI 48195
    (734) 287-6077
    Woodcreek Condominiums LLC
    22757 Woodcreek Dr, Taylor, MI 48180
    (734) 287-8700
    Gatewood Condo Clubhouse
    16038 Holz Dr, Southgate, MI 48195
    (734) 283-8621
    ACT 1 Condominiums
    14092 Jackson St, Taylor, MI 48180
    (734) 283-5185
    Southtown Village Condo Associ
    12536 Second Ave S, Southgate, MI 48195
    (734) 287-2486
    Gateway Townhomes
    30427 Teaklane St, Romulus, MI 48174
    (734) 403-4624
    Concorde Club Apartments
    7080 Niagara St, Romulus, MI 48174
    (734) 589-0434
    Redford Villa Condo
    26710 Joy Rd, Redford, MI 48239
    (313) 937-2273


    Condominiums are essentially apartments that a person owns rather than rents or leases; they also might pay association fees to help with the maintenance of the building and grounds around the condos. Condominiums usually will contain kitchens, laundry rooms, and multiple bedrooms and can be very luxurious or have a very contemporary look. Condominiums also often come with 24 hour security services. Buying and selling condos is usually done by real estate agents but they can also be put up for sale by the previous owner. Condominiums differ from townhouses in the fact that condominiums can be high rises, multi-bedroom, or even similar to the style of a hotel, whereas townhouses usually only have one or two units per building and are houses rather than high rise buildings. Many new condominiums offer luxury features and can be found in any part of the cities including downtown. Real estate agents will also offer more services when dealing with purchasing condos rather than renting apartments. An excellent way to get more information about the differences between condos both old and new, townhouses, and luxury vacation sales is to speak with a real estate agent who has access to multiple listings in all areas. Other information can usually be found through online sites and sometimes brochures that include property for lease, condo listings, and vacation property for sale. Many people consider condos more of a home than apartments because they own them rather than rent them. Condominiums can include almost anything from luxury kitchens, multiple bathrooms, and can even come completely furnished. They may be downtown or in the suburbs and they can come in almost any size.
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