Is a apartment a condo or a condo a apartment?
- zipperLv 62 months ago
No! An apartment is just an apartment a Condo you could own in many areas. It also has a lot more room than the average apartment.
- SlumlordLv 72 months ago
A condo is a method of owning a residence. Most condo's are apartments but there are townhouse condo's and even detched houses that are condo's.
An apartment is a living space in a building which has other space used for other purposes (typically other apartments).
So, they are different although the greater bulk of condo's are apartments (but not all apartments are condos depending on how they are owned).
- JudyLv 72 months ago
they are different.........................
- Anonymous2 months ago
An apartment is a type/style of dwelling (as in apartment, bungalow, Tudor, Colonial, etc.).
A condo is a specific form of property ownership. Each unit has an individual owner. Owners collectively own the common areas. A homeowner's association is the governing body.
An apartment might or might not be a condo. It depends on how it's owned.
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- Anonymous2 months ago
They are similar .
Apartments like condos can also be individually owned in a complex .
- MarkLv 62 months ago
"Condominium" is a real estate term, but not architectural. It's about the ownership. Condos are commonly apartment-like in structure, but you can also have detached single family condominium homes. In a condominium, individual owners own the inside of their unit, but also share common ownership of the exterior and land with the other owners. An association or board is established to manage the common properties including maintenance.
In a co-op, each unit owner owns shares in the corporation that owns and manages all the units and you live in one of the units.
- AmyLv 72 months ago
Apartments are parts of a building that has a single owner, while condos are individually owned.
They are physically identical, except that they may have different optional features, such as condos usually contain a washer+dryer while apartments usually don't.
- EvaLv 72 months ago
A condo is an apartment, but an apartment is not necessarily a condo. Condos have home owner's associations (HOA) that set the rules for the complex and collect fees to maintain the common areas. Condos may be owned or rented by their individual owners and the owners have equity. Apartments can be owned, but are more commonly rented.
- Donnie PorkoLv 72 months ago
In some ways they’re the same but in other ways they’re different.
A condo and apartment are units that are clumped into one building.
Condos are units that are owned by different people but they operate as one entity. All the tenants/owners obey the same rules set by the board. So depending on who gets elected, the rules can change year to year.
Apartments are units that have 1 owner. The owner rents out the units. The owner sets the rules.
- megalomaniacLv 72 months ago
A "condo" used to mean something different than an apartment until marketing people got hold of the idea that "condo" sounds better and now use it to sell apartments.