Condo vs. Apartment Living: The Differences

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Condo life and apartment life are both similar and different.  Many of both include great amenities, central locations, parking and somewhere to live.  However, apartment complexes are owned by a company or person and run by a property manager.  Condos are owned by individuals, similar to owning a home, except that condos are typically in clustered buildings or high-rises. 

Renting an apartment means dealing with a property manager, and often a larger company.  This comes in handy when there are problems – the company won’t want to look bad or receive negative feedback and will often work quickly to remedy any issues.

Renting a condo has its benefits, also, such as potentially more luxurious accommodations, better amenities and personalization.  However, the downfall of renting a condo is that the owner typically does not own and rent many properties.  The owner may be inattentive, or too busy and slow in responding.  Research is important, as is getting to know the owner before signing the dotted line.

Condos often come with homeowners association fees to cover maintenance, lawn care and facility care.  Sometimes these fees are included in rent; other times they are an added on expense.  Because some condo associations do not allow the rental of units, finding a condo to rent might be difficult compared to renting an apartment.

 

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