Residential Condominium Building
Plain-English definition and practical context.
Definition: Residential Condominium Building | (RCB)
pronunciation: rez-i-den-shuhl kon-duh-min-ee-uhm bil-ding
A Residential Condominium Building is a building owned collectively by the members of a Condominium Association that contains one or more residential units and in which at least 75 percent of the building’s total floor area is devoted to residential use.
This distinction is important under the National Flood Insurance Program (NFIP) because only qualifying residential condominium buildings are eligible for coverage under the Residential Condominium Building Association Policy (RCBAP). Buildings that do not meet the 75 percent residential-use threshold are generally insured under a different NFIP policy form.
The residential floor area calculation includes living spaces within individual units but excludes areas such as parking garages, basements used solely for storage or access, and commercial spaces when determining eligibility.
Sources & Authority
Sources for Residential Condominium Building
Definition and eligibility requirements published by the Federal Emergency Management Agency under Title 44 of the Code of Federal Regulations, Appendix A(3).