A condominium, or a condo, is a form of residential use rights in which a certain part of real estate (generally a vertical residence room) is privately owned. However, in relation to all forms of use of various facilities in its access, it follows the rules in accordance with private ownership, and an association of condo unit owners regulates these rules too. The condominium like the Verticus condo is different from an apartment, where the meaning of the condominium itself is intended as a dwelling or unit whose status is under private ownership and not as a right to use or rent as an apartment in general.
Condo buildings usually only consist of a few towers, either 2 or 3 towers. The condos like Verticus condo are also equipped with quite luxurious facilities, such as swimming pools, large parks, gym facilities, restaurants, spas, and other supporting luxury facilities. The condos are intended to be sold to the upper to middle-class people.
The condo also offers a high level of security. Not only guarded by security officers, but the condominium like the Verticus showflat is also equipped with CCTV cameras. With a 24-hour security system, robberies or theft are rare in the condominium environment. Residents also do not need to mess around with matters of cleanliness and environmental maintenance because it is usually already taken care of by the developer.
In some countries, the word condominium is more widely used by those who are struggling in the field of the property business, where since the last few years condominiums have begun to be introduced as new residential products for those who live in urban areas.
The property businessman has his own view in distinguishing the meaning of the word condominium and apartment. It means the condo unit is owned by the resident. Residents are also free to sell their condos. While the apartment is a unit or vertical housing that will be rented.