Are you curious what types of licenses Nesbitt Realty needs to manage rental in Virginia near Washington DC?
Nesbitt Realty already serves investors in 22302; and, we'd love to help you too! We have all necessary license and authority to manage rental property in the City of Alexandria and anywhere in the Commonwealth.
Read more about about rental property management services
A condominium is real estate with certain specific properties. Although there are various types of condominiums, the most common legal arrangements involve individual ownership of each unit, with joint ownership of the communal or common areas by all of the residents in the building. Condominium developments can be commercial or residential.
In the case of residential property, a condo can be composed of one or more a high-rise buildings, garden-style buildings, townhouses and---in special cases--even consist of detached houses. While some condominiums are located in large multi-unit buildings, others may be detached form each other and be located in a gated or planned community. Some condominiums may be located in resort or vacation destinations.
Most usually, a condominium is a housing unit or apartment in a multi-unit building in which each unit is individually owned, with common areas and the property in general jointly owned by the residents and the owners of the building, or all of the residents together. So the structures that make up a condominium complex are divided into living units, which are each owned by individuals. Jointly, these unit owners all have an interest in the rights and duties of the common areas, such as the parking lot, lobby, roof, etc.