Ron Monahan - Las Vegas Realtor

CONDO CONVERSIONS I can help you!

ABOUT CONDOMINIUM CONVERSIONS

The condominium lifestyle means amenities and Carefree living. Condominium ownership is quickly becoming an alternative to traditional single-family home ownership in the Las Vegas area. Condominium ownership is owning an individual home and sharing in the benefits of common areas that are used by all residents.

WHAT IS A CONDOMINIUM?
A condominium may be defined as "a form of ownership, in which you own a single unit in a multi-unit project together with an undivided interest in the common areas and facilities". The common area expenses are billed to each individual owner equally. Very owner has an individual say in the management, control, and maintenance of common area and facilities through the Homeowner's Association (HOA) therefore having a definite say in their operation.

HOW DO I OWN ONE?
Owning a condominium is like just like owning a traditional single-family home. You receive a deed conveying fee simple title, title insurance, and retain tax benefits from the payment of interest and property taxes. The tax advantages are the same as in a single-family homeownership and may also benefit through increased appreciation.