Apartments vs. Condos | apartment condo difference
Whensearchingforaplacetocallhome,youllseeavarietyoflistingsavailableforrent.Thedifferencesbetweenhomesandapartmentswillbeobvious,butwhataboutthedifferencebetweenanapartment[1]andacondo[2]?Theymayseemsimilarwhenitcomestospecsormonthlyrent,butthereareactualdifferencesbetweenthetwopropertytypes.Thesearesignificantenoughtoaffecthowyourhome,andthebuildingitsin,operatesonadailybasis,sotheyreimportanttounderstand.1.OwnershipThedifferenceinownershipbetweencondosandapartmentbuildingsisthemostsignific...
When searching for a place to call home, youll see a variety of listings available for rent. The differences between homes and apartments will be obvious, but what about the difference between an apartment[1] and a condo[2]?
They may seem similar when it comes to specs or monthly rent, but there are actual differences between the two property types. These are significant enough to affect how your home, and the building its in, operates on a daily basis, so theyre important to understand.
1. OwnershipThe difference in ownership between condos and apartment buildings is the most significant distinction. Its something youll notice in a rental listing.
ApartmentsAccording to Statista, there are a little more than 43 million[3] renter-occupied housing units in the U.S.
Ownership of an apartment differs from that of a condo because an entire building typically has one owner in an apartment complex. Youll either interact with them or youll work with a manage...