What is ‘Landominium’
When a person owns a piece of residential property, he or she owns both the house and the land on which the house is constructed. Like a condominium, the property is a part of a larger community where a homeowners’ organization is in charge of the landscaping, maintenance, and other services that are supplied.
Members in landominium communities are frequently provided with a variety of facilities. Tennis courts, man-made lakes, clubhouses, and walking trails are just a few of the facilities available. These additional benefits, on the other hand, may be outweighed by limitations imposed on residents by the homeowners’ organization. Flowers, trees, shrubs, and even fences are subject to restrictions, which include prohibitions on the kind and color of flowers, trees, bushes, and fences.
What does a Landominium look like?
Landominiums are often constructed as retirement communities and consist of a number of single-family houses that are surrounded by a variety of amenities such as gardens, parks, golf courses, and leisure facilities. Occupants are the legal owners of both their dwellings and the land on which they live.
What's the difference between a Landominium and a condominium?
Its name is derived from the term condominium, which became popular in the 1960s as a way to designate a privately owned unit in an apartment complex. In addition to the traditional condominium paradigm, a landominium complex expands upon it by bundling together the living unit and the land on which it is constructed.
- Anonymous Capital Flows and US Housing Markets – papers.ssrn.com [PDF]
- Investors and Housing Affordability – papers.ssrn.com [PDF]
- Retail Marijuana Deregulation and Housing Prices – papers.ssrn.com [PDF]
- Adaptation and Adverse Selection in Markets for Natural Disaster Insurance – papers.ssrn.com [PDF]
- Constructing Community: class, privatization and social life in a Boston mixed income housing development – dspace.mit.edu [PDF]