Condominium is the term most often used to define the right exercised by condominiums over their private units and over common facilities on a horizontal property with more than one tenant.
If you are purchasing a home on a horizontal property, or in a closed condominium, you must take into account additional costs to pay for expenses arising from common use facilities.
The condominium payment is legal and obligatory.
Algarve - Portugal
The amounts payable are previously agreed upon at the condominium meetings and recorded on minutes or in the condominium regulation, if any.
It is intended for the payment of electricity consumed in common areas, water, cleaning staff, and all necessary works.
Find out how much you need to pay for the condominium of the property you wish to purchase, as well as what kind of condominium there is, and what kind of activities they organize.
in doing so, you will prevent unexpected cost, that might occur after your purchase is done.
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