Tenancy In Common Agreement Ontario

Most tenants of joint buyers are interested in comparing the risks of renting in condominiums with the risks of co-ownership. In this comparison, it is important to note that condominium ownership carries many of the same risks as ICT ownership, including those arising from common commitments such as the maintenance and insurance of common areas, those resulting from the need for joint management and decision-making, and those engendered by living with other co-owners in the immediate vicinity (noise, For example, pets, parking, amenities, etc.). The main additional risks associated with leasing public assets are (i) larger common obligations, such as property tax and (in some cases) group loans, ii) greater complexity and costs related to resale and refinancing, and (iii) confidence in an unaccounted for co-ownership agreement.