What Is A Residential Complex?

Residential complexes are a group of homes or apartments with a shared infrastructure. These communities regularly have green areas, sports courts, swimming pools, community rooms, and security checkpoints.

These projects have been conceived within the same comprehensive project and with the same identity, style, and finishes. Homes located within a residential complex usually share common areas and other amenities.

 What is a condominium?

A condominium is a structure or a group of buildings with individually owned apartments and shared common areas owned by the residents of those apartments.

The deed of a condominium indicates that it is constituted under a condominium regime. The administration is established through an assembly of condominium owners, who will be in charge of collecting the condominium fees and taking care of the management of the building.

Administration of condominiums and residential complexes

We know how complicated it is to manage a condominium, subdivision, or residential complex, so we designed a residential condo to facilitate communication between administrators, neighbors, workers, and suppliers. Here are some benefits of using our app:

Stay on top of administration-related issues.

Contact condominium owners all the time thanks to the Notices and News functions.

It facilitates the collection of maintenance fees and offers transparency about all expenses.

Can a residential complex be constituted as a condominium?

Establishing a condominium through the condominium property regime is the legal act in which the property owners develop this type of ownership to better use the facilities, equipment, and common areas. Only residential complexes constituted under this regime (it varies by state) are in condominiums.

Differences Between Condominium And Residential Complex

The residential complex is commonly a group of housing units in which house and apartment owners live. Conversely, a condominium is primarily a physical structure in which an individual has exclusive ownership of an apartment or unit.

A residential complex is commonly synonymous with a condominium, which is usually exclusively private since they are urban developments with a personal property character per the condominium regime.

In this case, the person responsible for maintaining and providing service to the streets and infrastructure inside the condominiums and residential complexes is the owners or condominium owners through their administration.

The similarities that stand out between these two types of urban development are:

Community administration

The main objective of the condominium assembly (neighborhood association or settler association) is to ensure the conservation of the facilities, common areas, and image of the condominium or residential complex through an administrator.

Bylaws

Bylaws can be tailored to the specific needs of the community. These will support and promote shared values. There will not be a set of burdensome restrictions that limit residents’ freedom. Instead, they will express how they want to relate to each other and the common areas.

Fees

Fees for the maintenance of common areas and other services are divided between the owners of the condominiums and residential complexes.

Security

While rental units are not always safe, condominiums and residential complexes have that feeling of security and the peace of mind that only a safe and quiet building can provide.