Definition : Rental condo

Term that refers to an apartment located in an immovable that is not held in divided co-ownership. This expression is used to describe an apartment that is rented out and that is located in a building with the same characteristics (e.g. a swimming pool, a community hall, a gymnasium, etc.) as some buildings held in divided co-ownership. It is important to note that the tenant cannot refuse the rent increase for a dwelling located:

• In a building constructed for 5 years or less or;
• In a building whose use for residential purposes results from a change of use for five years or less.