Hmm. Yep. Exactly like a condo. For context - I live in rural America, and have virtually no concept of how condos run. After googling -

Are they really collective? Like, everyone for the greater good collective, or everyone for that one pissed off old man who wants to run the HOA collective?

And do you actually own the condo at the end, or is it just rent?

I like when I am ignorant of something! Learning!!

you mean like a condo that only exists because the contractor KNOWS it will sell all it's units, and the reason they know it is because rental companies buy in bulk.