Apartments Vs Condos: What’s the Difference?

When you are looking for a new place to live renting is an attractive option. You’re not bogged down by having to take out a mortgage or having to make a long-term commitment to staying in one location. When you are looking into finding a place to rent odds are, you’ll be told about apartments and condos and you might wonder exactly what the difference between the two is and if either is better than the other. Both have their strong points and this article will hopefully make it easier for you to decide if you want to look into apartments as the place you want to live in or if you would prefer to find a condo to be your new home.

The first major difference is that each condominium is owned by a separate owner whereas in an apartment building the whole building is owned by a single person or company. Your condo will likely have a group of people who run a Home Owners Authority (Or HOA) That will set down guidelines and terms for how you cares for and maintain your property. The person who owns your condo will be on this committee and be able to be an advocate for you but it is possible that you will be forced to comply with terms that you didn’t agree to at the start of your renting of the condo. Apartments having a single landlord means that they will generally spell out the terms and conditions of renting out a property to you at the start of your time there and make it simple for you to understand what you need to do to remain in compliance. If the terms change, you’ll be notified by property management. 

Luxury apartments such as Aqua On The Levee will tend to be more professionally run since a company that is the real estate business and knows all about renters issues and apartment maintenance will be on site to handle all of your concerns where as your condo’s owner might be out of town for weeks at a time and you’ll be left to talk to the HOA about any issues that might have cropped up. It’s likely your condo will give you a more relaxed and personal feel when it comes to dealing with the people who own your property while an apartment will be strictly business and all about them providing a service for the money you’re paying them. It’s up to you to figure out which of these two ways of handling business feels better.

Both a luxury apartment complex and a condominium can have a wide array of amenities that you would be interested in. You should scout around to see if the places you’re looking at have pools, gyms, tennis courts, basketball courts, or other outdoor activities that you enjoy. You’ll also want to see if they have a washer and dryer located inside your building or if there is a communal center for the washing and drying of clothes. In the end there is no wrong answer when it comes to picking between apartments and condos. All that matters is finding the option that works best for you. 

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