Article
Explaining Miami Condos
There are several rights and responsibilities that are commonly understood when it comes to owning Miami condos. Owning a condo gives you exclusive ownership of the unit. Unlike renting an apartment, Miami condos are rented to buy. This means that you can do anything you want, within reason, to the unit. However, you are responsible for maintaining the unit. This is all, of course, the inside of the unit. The outside area is shared with the rest of the owners in the complex and is maintained by a maintenance team. As a whole, the owners of the Miami condos in each complex are part of an association and can have a say and vote in matters concerning the condominium corporation. Every owner has the right of access to common areas, subject to the declaration, by-laws, rules and regulations. And, there are association fees that you are responsible for paying.
The owners of Miami condos will elect the member of the association, who are condo owners themselves. There is a board that is elected by the rest of the condo owners. In general, the board is responsible for the upkeep and maintenance of the building(s) and other business matters, usually by supervising the actions of a property manager.
The association board must also keep up with the by-laws of the complex. These are simply rules that state how the Miami condos will be run, how the property will be maintained, and how the common elements will be used. By-laws are made, and can be changed, by owners who own 60% of the common elements.
Each community of Miami condos will have common amenities that are available for use. Basic amenities generally refer to a pool, Jacuzzi, fitness centers, and laundry services. With these amenities however, there are fees that must be paid to keep things in proper working order. This is generally a monthly due that is paid by the owners of the Miami condos.
A unit is the part of Miami condos property that is to be individually owned and occupied. From the walls in, each owner is free to do what they want. In most cases, there is a common wall between units. Many Miami condos are on the beach or in the city, so there aren’t too many condos that have this common wall.
The property manager is an employee of the corporation who is responsible for the day-to-day management of the property which may include the collection and disbursement of common expense monies. The specific duties of the property manager should be contained in a written contract. Some condominium corporations may not have retained a property manager and are often self-managed by the Board of Directors.
