OFFICE CONDOMINIUMS

Office condominiums are similar to residential condominiums. Instead of renting, companies purchase offices in an office condominium complex.

The common areas are co-owned by all of the tenants and a board oversees landscaping and other maintenance issues.

The construction of office condominiums is growing because of the benefits they offer, such as tax benefits, building appreciation and equity, and predictable monthly expenses.

Many of the financial requirements imposed on residential condominiums are not imposed on office condos. Civil Code §1373

Updated by ADAMS KESSLER 8/21/2007