A condominium is a building made up of privately owned apartments. Your grandparents might decide to move into a condominium in Florida.
A condominium is split into units, which can be apartments, floors of houses, or even entire houses — each of these units is also a condominium. Rather than renting from a landlord, the way you do with an apartment, each occupant owns his or her individual condominium, and they all contribute money each month for maintenance and upkeep. The Modern Latin meaning of condominium is "joint rule or sovereignty," combining com-, "together," and dominum, "right of ownership."