What Is The Difference Between Condo And Apartment

Condos and apartments are both types of housing, but with some differences. A condo is an individually owned unit in a larger building or complex, while an apartment is a rental unit in a larger building or complex. Condos are typically situated in a larger building that also includes other units that are individually owned. An apartment is typically a rental unit in a larger building that may include other rental units as well.

Another difference between condos and apartments is the ownership structure. Owners of a condo own their individual unit and may have a share of the common areas, such as the lobby, hallways, and recreational facilities. Renters of an apartment typically pay a monthly rent and do not have ownership in the building or any of the common areas. Additionally, condo owners are responsible for paying for their own maintenance and repairs, while apartment renters typically have the landlord responsible for any maintenance and repairs.