What Do You Own When You Buy a Condo? Know Your Ownership Rights in British Columbia

You do own a condo after purchasing it, but there's more to it. You also share possession of the community's common spaces, amenities, and the land it sits on. Condos are a great way to own property without the responsibilities that come with maintaining a standalone house, but it's important to understand what you truly own and what is shared with your neighbours. In this guide, we’ll break down how condo ownership works, what rights and responsibilities you have, and what to consider when deciding if a condo is a good investment for you.

When You Buy a Condo, Do You Own It?

Yes, when you buy a condo, you own it—but the type of ownership differs from single-family homes.

You hold title to your individual unit, meaning you fully own the interior space within your walls. However, you share ownership of common areas like hallways, lobbies, pools, gyms, and exterior spaces with other condo owners in the community.

These shared areas are maintained by a condo board, which collects monthly fees for upkeep and repairs. While you have full rights to sell, rent, or renovate your unit (within guidelines), you must also follow community rules and contribute to shared maintenance costs. As the sole owner of your unit, you must provide condo insurance in addition to paying into the master policy via communal fees.

Who Owns the Land a Condo Is Built On?

The land a condo sits on is collectively owned by the condo corporation and the unit owners. The value of the land and common elements in a condominium community is distributed among all owners through the value of their individual units. Each owner holds a proportional interest in these shared assets, which is typically reflected in their unit's assessed value and association fees.

Freehold condos are an exception to this rule because ownership includes the structure and the land it sits on. This gives the owner and tenants more freedom regarding the property's exterior. Freehold condos tend to cost more, but they offer advantages that may make the investment worthwhile for some buyers.

However, those buying a freehold condo will be responsible for any repairs and maintenance of their property instead of relying on the condo association. This could result in owners paying for landscaping upkeep, exterior painting, and roofing repairs. Additionally, freehold owners are individually responsible for property taxes on the condo.

Common Elements, Limited Common Elements & Private Elements

There are three main categories of ownership in condos: common elements, limited common elements, and private elements. Here’s a brief overview of each:

• Common elements: Features that are accessible to all owners but maintained by the condo board.
• Limited common elements: Any amenities or structural components that are available to some people or just one but still maintained by the condo board.
• Private elements: Anything that is for the exclusive use of a single condo owner. Condo owners are independently responsible for maintaining.

Common Elements

Common elements are shared spaces and features in a condominium that all owners have access to and jointly own. These areas are maintained by the association, and their upkeep is funded through association fees. Common elements typically include spaces and utilities that serve the entire community.

Examples of common elements:

• Hallways, lobbies, and elevators in a condo building
• Parking lots and driveways
• Swimming pools, gyms, and clubhouses
• Landscaping and green spaces
• Roofs and exterior walls of a condo building

Limited Common Elements

Limited common elements are areas or features in a condo that are designated for the exclusive use of a specific unit or group of units, but their maintenance may still be the responsibility of the association. While not fully private, they provide additional amenities or access to certain owners.

Examples of limited common elements:

• Balconies and patios attached to specific units
• Assigned parking spaces or garages
• HVAC units, electrical panels, or plumbing that serve only one unit
• Fenced-in yards connected to ground-floor units
• Shared stairways or entryways leading to only a few units

Private Elements

Private elements belong exclusively to an individual owner and are not shared with other residents. The owner is solely responsible for maintaining and repairing these elements. These areas are considered part of the owner’s unit, typically defined in the community's governing documents.

Examples of private elements:

• Interior spaces of a condo or house, including walls, floors, and ceilings
• Appliances and plumbing fixtures inside the unit
• Kitchen and bathroom cabinetry
• Personal belongings and furniture
• Any upgrades or modifications made within the unit’s interior

How Do I Learn About Condo Ownership Rights?

Before purchasing a condo in British Columbia, buyers should review the strata plan, which outlines the boundaries between individual units and common property. The strata plan, registered with the Land Title Office, defines what is part of a privately owned strata lot and what is designated as common property or limited common property.

Buyers can request this document from the seller, their real estate agent, or directly from the strata corporation. Additionally, reviewing the declaration, bylaws, and rules of the strata corporation can provide further clarity on maintenance responsibilities and usage rights for shared spaces.

To fully understand ownership rights and responsibilities, buyers should also obtain a Form B Information Certificate, which provides details about the unit, parking, storage, and any associated fees or restrictions. This document may indicate whether certain areas, like balconies or patios, are limited common property assigned to the unit.

Consulting with a lawyer or experienced real estate professional familiar with strata properties can also help buyers navigate the legal distinctions between private ownership and shared ownership within the community.

Apartment vs. Condo: What's the Difference?

The ownership structure of condos can cause people to confuse them with apartments. An apartment is a rented unit within a multi-family development, whereas a condo is a privately owned unit.

Condos and apartments typically have similar layouts and common community amenities. Furthermore, both are multi-unit properties that can be found in low-rise, high-rise, and medium-rise designs. However, some key differences exist—especially regarding ownership, rental rights, and responsibilities regarding apartments and condos.

Condos can be rented out to tenants. The owner is also likely to be the landlord and will be responsible for maintaining major interior systems in the specific condo. However, a community association oversees most exterior upkeep of the condos, shared amenities, and other services. Condo owners will be required to cover association fees.

Unlike condos, they are strictly for rent and are secured by tenants through a property management company or independent landlord. Apartment renters have more maintenance responsibilities than condo owners.

Know What You're Buying When Investing in a Condo

Buying a condo can be an excellent investment for first-time home buyers, those looking to downsize, or buyers who want to enjoy minimal maintenance and popular amenities. However, before signing a contract, know what you'll own and be held accountable for, as well as what the community association owns and takes care of. Carefully read the condo community's governing documents to understand these policies when shopping for a new home.