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It may come as a surprise to many of you renters out there that condos and apartments are in fact not one in the same, though they share many similarities. There are several key differences between a condo and an apartment (stemming from ownership). While a condo is owned and managed by a landlord, an apartment is typically owned and managed by a corporation, known as a property management company. Let’s dive into the details to discover more about each rental option, shall we?
What Is a Condo?
A condominium (what us cool kids – and everyone else – like to call a “condo”) is a private residence that is rented out to tenants like yourself. A condo is typically located in a residential building or community, but the unit itself is privately owned by an individual who becomes the landlord of that property. The