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The HPI is reviewed every year in May to change for modifications in the realty market. MLS HPI Criteria Rate: The MLS House Rate Index (HPI) Criteria Cost is the HPI translated into a real-world rate number. Strata Insurance: Strata insurance is insurance used by a strata like a condo to covers damages to common areas and possessions and liability to the strata.

The insurance can cover: Structures and structures associated with the strata including typical locations such as the roof, parking lot, driveways, health clubs, swimming pools, etc. Liability for any residential or commercial property damage or physical injury suffered on strata home, Any components that become part of the "basic unit" or original construction of each system, Strata insurance coverage does not usually consist of personal items and appliances that become part of an apartment unit.

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These are usually covered by individual condominium insurance. Home types, Detached house: A removed home is your standard single-family home. It is a residential building that stands alone and is independently titled or lawfully a single system.  A Good Read -detached house: A semi-detached house resembles a detached house, other than it shares a wall with another house.

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There can just be two houses in a semi-detached structure. Townhouses: A townhouse is the middle in between a detached/semi-detached house and a condominium apartment. Like separated and semi-detached houses, they are frequently single-family units that have their own land and might be connected to other systems. Nevertheless, like condo homes, they normally have to pay co-ownership charges for upkeep and may share some typical functions with their next-door neighbors.

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These are complexes of residential units with typical locations such as hallways, car park, stairwells, and so on. They can be low-rise, mid-rise, or skyscrapers. Unlike townhouses, there are no parts of the lot (the land of the building) where access is booked for only one owner or resident. There can be privately owned systems and areas inside the building.