Condos are mainly the individually owned units in a particular building. When someone owns a condo, they will be responsible for paying the monthly fee. This fee will be mainly collected by the condo association. This association mainly manages all the expenses of the exterior as well as common area maintenance. Some of the important facts about the Condo Rentals in Pattaya have been discussed in this article.
Different types of the condos to know about
There are two different types of condos that are available.
- Freehold condo: In this type of condo this unit is mainly owned by the tenant outright.
- Leasehold condo: They have tenants having contracts with their landlord instead of possessing the unit.
Some of the different types of condos are mentioned below:
- The standard condo home is the type of residential property. This is where the owner owns the part of the building which mainly consists of the interior of their home.
- A timeshare condo, or the condo share, is mainly used as a second home or vacation home. The tenants mainly allocate the condo for a certain time as well as number of days each year.
Top benefits of the condos to know about
Below are some of the important benefits of the condos to know about:
- Lower-maintenance living: The exterior maintenance on condos is mainly handled by the HOA. The condos are the best option for those buyers who don’t want the higher maintenance. Some of these responsibilities include owning their own house, mowing their lawn, fixing the leaky roof, etc.
- Sense of security: The condo communities mainly have security staff. Condo mainly helps someone to feel safer. Depending on the type of building, this might have secure entrances as well as parking. This can be beneficial if someone works odd hours or travels frequently.
- Different opportunities to be social: Some homeowners associations mainly organize some of the social events like barbeques, pool parties, as well as some other functions. Condos are a great place for the people to meet.
- Affordability: The condos are more compact and they mainly require less land in comparison to the single-family homes. This can be the more affordable way to own property. The property taxes are mainly lower in this case.
- Amenities: Depending on the type of community, one may have access to different amenities like a business center, a grilling area, pool, dog park, clubhouse, covered parking, and many more.
These are some of the important facts one must know about condo rentals.