Definitely the Best Condominiums for Sale or Rent in the USA

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Condo vs. Apartment – What’s the Difference?

The main difference between an apartment and a condo is in their ownership structure. An apartment is typically owned by a landlord or a management company, who rents out individual units to tenants. In this case, the tenant only has a lease agreement with the landlord, giving them the right to occupy the unit and use the common areas.

A condo, on the other hand, is owned by an individual who buys the unit outright and holds a deed to the property. The owner is responsible for paying for the unit and any shared areas, such as a gym or pool, through homeowners association (HOA) fees. Unlike an apartment, a condo owner has the freedom to renovate their unit and make changes as they see fit, subject to HOA rules and regulations.

Another difference is that apartments are typically rented on a short-term basis, with leases lasting anywhere from 6 months to a year, while condos are typically sold to owners who intend to live there long-term. Additionally, while an apartment complex may have many units, a condo building may have fewer, and each unit may have unique features and finishes.

When it comes to maintenance and repairs, in an apartment complex, the landlord is responsible for handling most repairs and maintenance issues, while in a condo, the owner is responsible for maintenance and repairs inside their unit, while the HOA is responsible for shared areas and building exteriors.