A condominium is a single unit of real estate—usually a home or residence—in a multi-unit residential development in which each owner of a unit has both a separate ownership interest (often everything inside the front door)—and a common ownership interest (with other unit owners) in the common areas of the property outside the front door—such as roofs, hallways, driveways, walkways, stairways, stucco, brick, paint, stone, and landscaping.

A condominium development is usually governed by a homeowners’ association (HOA) through its board of directors, elected by the homeowners as provided by the HOA’s declaration and bylaws. Unit owners or homeowners in the association are required to pay monthly HOA dues for the maintenance and repair of the common areas of the property and its insurance.

In South Dakota, condominiums are regulated under the South Dakota Condominium Act, which is found in SDCL Chapter 43-15A. This act outlines the creation, ownership, and governance of condominiums within the state. Each condominium unit owner has an exclusive ownership interest in their unit, as well as a shared interest in the common areas of the property, such as lobbies, gardens, and other amenities. The common areas are maintained through the collective efforts of the homeowners' association (HOA), which is typically managed by a board of directors elected by the unit owners. The HOA is responsible for the enforcement of the rules and regulations as set forth in its declaration and bylaws. Unit owners are required to pay regular dues or assessments to the HOA to cover the costs of maintaining, repairing, and insuring the common areas, as well as any other expenses agreed upon by the association. These dues can also contribute to a reserve fund for future capital improvements or repairs. The specific rights and obligations of unit owners and the HOA are detailed in the governing documents of the condominium association, which must comply with state law.