### What is a primary characteristic that distinguishes a condominium from an apartment? - [x] Condominiums are purchased by the owner - [ ] Condominiums are rented - [ ] Condominiums do not provide access to common areas - [ ] Condominiums have lower quality construction compared to apartments > **Explanation:** A condominium is owned by an individual and usually involves a purchase, whereas an apartment is typically a rental property. Condominium owners also share access to common areas and may participate in the governance of the property through an owner's board. In contrast, apartments are rented and managed by property managers. ### Who generally governs a condominium complex? - [x] A board of the owners of the units - [ ] Real estate agents - [ ] A single property manager - [ ] City council members > **Explanation:** Most condominium complexes are governed by a board consisting of the owners of the units. These boards are responsible for making decisions regarding maintenance, regulations, and other communal interests within the complex. ### What is the relationship between a condominium and common areas within the property? - [x] Condominium owners have access to common areas - [ ] Condominium owners can modify common areas as they please - [ ] Condominium owners are restricted from using common areas - [ ] Common areas are only accessible to apartment renters > **Explanation:** Condominium owners typically have access to various common areas within the property. This can include facilities like elevators, pools, recreational areas, and parking locations. The use and maintenance of these common areas are generally governed by the owners' board. ### What influences the construction standards of condominiums compared to apartments? - [x] The difference in sales and rental markets - [ ] Size of the housing complex - [ ] Number of units in the building - [ ] Proximity to city centers > **Explanation:** Condominiums are typically constructed to higher standards than apartments due to the difference in the sales versus rental markets. Since condominiums are sold to buyers, they need to meet higher quality standards to ensure they are a worthy investment, whereas rental properties like apartments may not be held to the same stringent standards. ### How does ownership in a condominium unit typically work? - [x] Each unit is owned by an individual - [ ] Each unit is owned by a single property manager - [ ] Each unit shares joint ownership among all residents - [ ] Each unit is owned by a real estate company > **Explanation:** In a condominium, each unit is individually owned by a resident or investor, as opposed to apartment buildings where all units are usually owned and managed by a single entity. Condominium owners have authority and responsibility over their individual unit while sharing ownership of common areas. ### What allows you to distinguish between a condominium and an apartment based on appearance alone? - [ ] The style of building architecture - [ ] Size of each unit - [x] You cannot visually distinguish between a condominium and an apartment - [ ] The presence of a garage > **Explanation:** By only looking at a piece of real estate, it is generally impossible to determine whether it is a condominium or an apartment. Both types of properties can be housed in similar-looking buildings; the key difference lies in the ownership structure, not the appearance. ### How is a condominium’s maintenance usually managed? - [ ] By each condominium owner independently - [x] By another single owner or association - [ ] By tenants renting other units - [ ] By city maintenance services > **Explanation:** Maintenance of a condominium common area is generally managed by a single owner or more commonly by an association composed of unit owners. This association uses funds derived from condominium fees paid by the unit owners to maintain the property, including common areas like pools, elevators, and recreational facilities. ### What typically provides governing regulations for condominium owners? - [ ] Government housing policies - [ ] Rules set by an external property management company - [x] A board composed of unit owners - [ ] Decrees issued by local real estate agents > **Explanation:** The governing regulations for condominium owners are typically provided by a board that is elected or formed from among the unit owners themselves. This board creates and enforces rules that address the communal living arrangements and standards within the condominium complex. ### What rights do condominium owners have that differentiate them from apartment renters? - [x] Ownership and participatory governance - [ ] Right to lease the entire building - [ ] Exclusive use of all building amenities - [ ] Freedom from maintenance fees > **Explanation:** Condominium owners have ownership rights over their individual unit and can participate in the governance of the property through the condominium owners' board. In contrast, apartment renters have no ownership stake and typically have no say in how the building is managed. ### In which type of property does ownership of individual units occur? - [ ] Single-family home - [x] Condominium - [ ] Traditional rental apartment - [ ] Guesthouse > **Explanation:** Ownership of individual units occurs in condominiums. Each unit within a condominium building is independently owned, which differentiates it from traditional rental apartments or single-family homes where the entire property is owned by one party.