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 Washington State, condominiums are regulated under the Washington Condominium Act (RCW 64.34). This act outlines the creation, alteration, management, and termination of condominiums. Each condominium unit owner has an individual ownership interest in their unit and a shared interest in the common areas, such as lobbies, roofs, and other amenities. The governance of these common areas and the enforcement of rules are typically handled by a Homeowners' Association (HOA), which operates under a set of bylaws and a declaration that are specific to the condominium. The HOA is managed by a board of directors elected by the unit owners. Unit owners are required to pay monthly dues to the HOA for the upkeep, maintenance, and insurance of the common areas. These dues also contribute to the reserve fund for future repairs and improvements. The Washington Condominium Act provides a framework for the rights and responsibilities of unit owners, the HOA, and the board of directors, ensuring that the condominium is managed fairly and effectively.