"Door County Real Estate" by: Kevin Nordahl, REALTOR®

Types of Condominium "UNIT" ownership

Spend any significant amount of time in Door County, for the sake of this essay let's say five minutes or less, and you will undoubtedly notice our condominiums. You really can't swing a..., well never mind the pet policies. There are a number of condos in Door County for a variety of reasons, none of which is more notable than the ease of ownership. There are few places in northeast Wisconsin where one can drive in, plunk their bags down and relax immediately in a beautiful surrounding like Door County. As an added bonus, take no care to exterior maintenance or security. All is provided for in a condominium. In case you are in the market for a unit here in Door County there are a few things to know about the type of units available and what a condominium actually is.

First, there is a big difference between a condominium and a unit. By definition a condominium is actually just another word for shared ownership. When a person purchases a condominium one actually agrees to a set of guidelines and rules as well as belonging to an organization of owners. This legal document to which individual owners agree to mutual ownership is called a condominium. The buildings that dot the map of Door County are actually referred to as units. To look at a beautiful piece of shoreline and say "gosh, look at all of those condominiums" while referring to one development is technically incorrect. Those are actually units in what is typically a single condominium (shared ownership) community.

A condominium can be an agreement to mutually own units of vacant land or units of commercial space, units of time (as in timeshares) as well as residential units. Dock or pier condominiums are no longer allowed by the State of Wisconsin. Still, some exist as they were set in place prior to such restrictions.

There are two type of condominiums most prevalent in Door County; Residential and hotel condominiums. Hotel condominiums typically have a rental agency for the unit owners who are required, in most cases, to rent the units a certain number or days per year. These units typically have a lockable closet for the unit owners to store their personal belongings out of reach to their tenants. Most hotel condominiums even have entrance lobbies and more often resemble upscale hotels. The units are typically smaller than a residential unit and more or less resemble an updated hotel suite. Asking prices for hotel condominium units are typically less than residential units.

Residential condominium units are usually larger and have stricter rental policies. The residential condominium unit is much more like a second home where owners have a very private setting for their guests and fellow owners to enjoy. There are no rental organizations in place and visitors are more often greeted with no trespassing signs or gates. Residential condominium units are typically very upscale and in some instances larger than some people's single family homes.

There are several very competent condominium attorneys in the Door County area. If you are in the market for a unit in Door County talk to a REALTOR(R) first. After you know which condominium community fits your tastes be sure to discuss your ownership with a legal professional. Such documents are very comprehensive and every potential owner has a five day right of recision to their offer to purchase under Wisconsin Statute.

Kevin Nordahl is a life-long resident of Door County, a REALTORŽ and a member of the Door County MLS. He is active President of the Door County Board of REALTORSŽ and has been a Sales Consultant at Coldwell Banker Door County Horizons in Fish Creek since 1996. He may be reached online at www.doorcountyrealestate.com or by phone at (920) 493-4004.

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