Commercial condominiums are often purpose-built developments, and can be part of larger development plans by municipalities. Existing retail space may also be converted into commercial condos by developers. Like their residential counterparts, commercial condo buildings are often governed and maintained by a condo association, to which all property owners belong. Property owners, who often operate their own businesses out of the space, may pay a fee to the association to fund upkeep of shared spaces like parking lots, hallways, and other common areas. Since each unit is separately owned, property owners are often free to rent out their spaces to one or multiple tenants, or sell their units without input from a landlord, which can provide additional income and easier exit strategies for businesses. Commercial condo spaces are often smaller and cheaper to buy and maintain, allowing easier access for small business owners.