Asked by Tiber Septims on May 09, 2024

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Which of the following statements identifies a key difference between condominiums and cooperative housing?

A) Condos tend to be less expensive.
B) Condo owners are not responsible for maintaining the common spaces in the building.
C) Co-op owners have more control over who can move into their building.
D) Co-op owners generally commit less time to the building governance.

Cooperative Housing

A type of residential community where residents have a collective ownership of the property and participate in its management and maintenance.

Condominiums

A form of property ownership where individual units of a larger complex are owned by individuals, including shared access to common facilities.

Co-op Owners

Individuals or entities that own shares in a cooperative, entitling them to use its goods, services, or facilities and participate in its governance.

  • Differentiate and clarify the distinctions between assorted market frameworks, including monopolistic and cooperative entities.
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Savannah NortonMay 14, 2024
Final Answer :
C
Explanation :
The key difference between condominiums and cooperative housing is that in a co-op, the owners collectively own the building and therefore have more control over who can move in as new owners. Condos do not have this level of control, as individual units are owned separately and can be sold or rented to anyone who meets the building's criteria. The other answer choices are not accurate; condos can be more or less expensive than co-ops, condo owners are typically responsible for maintaining common spaces, and the level of time commitment for building governance can vary for both types of housing.