Many investors have found building multiple improvements on an existing lot to be a profitable enterprise. As an alternative to re-platting the subdivision, which can be expensive and time consuming, the investors are creating new condo regimes. Creating a condo regime is a very similar process to creating a subdivision in that you need to create a governing entity (the condo association), by-laws, rules and regulations, codes, covenants, and restrictions, and a new legal description for the property to show which general and limited common elements in the existing lot belong to each newly created unit.