A condominium is a single unit of real estate—usually a home or residence—in a multi-unit residential development in which each owner of a unit has both a separate ownership interest (often everything inside the front door)—and a common ownership interest (with other unit owners) in the common areas of the property outside the front door—such as roofs, hallways, driveways, walkways, stairways, stucco, brick, paint, stone, and landscaping.
A condominium development is usually governed by a homeowners’ association (HOA) through its board of directors, elected by the homeowners as provided by the HOA’s declaration and bylaws. Unit owners or homeowners in the association are required to pay monthly HOA dues for the maintenance and repair of the common areas of the property and its insurance.
In Connecticut, condominiums are governed by the Connecticut Common Interest Ownership Act (CIOA), which applies to condominiums created after January 1, 1984. Under this act, each condominium unit owner has an individual ownership interest in their unit and a shared interest in the common elements of the property, such as lobbies, roofs, and other amenities. The operation of a condominium is overseen by a homeowners' association (HOA), which is responsible for managing the common areas and enforcing the rules set forth in the declaration and bylaws of the association. Unit owners are typically required to pay monthly or annual HOA fees to cover the costs of maintaining, repairing, and insuring the common areas, as well as any other expenses agreed upon by the association. The HOA is run by a board of directors elected by the unit owners, and the board's powers and responsibilities are outlined in the association's governing documents. It's important for unit owners to understand their rights and obligations under these documents and the CIOA, as failure to comply with association rules or pay dues can result in fines or legal action.