Condominium life has become a popular choice in real estate sales because of the lifestyle it offers, mainly the freedom from upkeep and maintenance, and access to swimming pools, fitness centers, and other amenities. The ability to earn an income from your condo is another perk as well as low-cost utilities and taxes. Many choose condo living for the peace of mind of a gated complex with 24-hour security.
Of course, condo life has a few drawbacks such as strict rules and regulations, but these rules are intended to ensure tranquility amongst the residents and protect the interest of the owners.
Some of the regulations are identified within the condominium regime.
The condominium regime is an essential part of owning a condo; it is a legal document granted by a Mexican notary and registered in the Public Registry of Property. Without the regime, owners can not obtain a title deed. The property regime is established before construction begins. Obtaining the official regime can take three to six months.
The regime consists of but not limited to the items listed below.