What Makes a Condo Different from an Apartment?

Filed in Articles by on April 24, 2024

The human needs triad is represented by food, water, and shelter which are the most basic. Every person has a right to a peaceful rest, an apartment or condo could be a good choice. tag along to see why. 

Difference Between Condo And Apartment

The primary contrast between a condo and a flat is property ownership and property administration.

1. Ownership: Condos are composed of a single owned unit in a larger development which can be a building or complex. 

Unlike apartment buildings with a single owner, which rent out apartments to tenants, condos are units that can be individually owned or corporate controlled.

2. Management: The condo owners make regular payments, known as condo fees or association dues, to a condo association that runs the building and also provides the necessary support and maintenance for the common areas. 

On the contrary apartment dwellers are paying rents for the landlord or the company that is managing the rights for the building maintenance and management.

3. Customization: Condo owners have a door that is open wider to change their units’ appearance, giving the look they like, but not over the borders of the association’s regulations. 

While tenants in rental apartments are restricted to use only what the landlord allows, increasing the number of services for ordering things such as food and groceries can ease this for a while.

4. Community and Amenities: Amenities like pools, gyms, and common spaces that are shared amongst condo inhabitants are usually found building condo communities. 

A wooden apartment may too have some amenities but the landlord or the property managers are the ones who decide on them.

The main differences between condos and apartments are your property, the way you get them managed, customization options whether or not you should keep them for the long term, and what they have to offer as amenities. 

What is a Condo?

A condo is either the whole or a partial unit of a building that was developed to be the property of a single owner. 

These units are mostly a part of buildings or complexes that come with some shared amenities and have a common residents area. 

Condo owners are with their specific unit ownership rights and as group owners of the user which includes corridors, elevators, parking lots, and recreational facilities like pools or gyms.

They can own the unit in their name, and as well make fundamental changes to the unit, and have the perceived influence on building management through a condo body. 

This type of living usually attracts people who want to be together, have shared facilities, and maintain the pursuit of their hobbies or passions. 

It can also be considered as a long-term investment since condo owners can accumulate equity in their property(and) then, they can also decide to sell it with profit too. 

While there are associated fees, that is, “Condo fees” or “Condo Association dues”, which cover shared building services and maintenance, the condo lifestyle also comes with a price.

How Big Should an Apartment Be?

The size of an apartment depends on various factors, including location, budget, lifestyle, and personal preferences. 

There is no one-size-fits-all answer to how big an apartment should be, as it varies greatly based on individual needs and circumstances.

For example, a single person or a couple may find a small studio or one-bedroom apartment sufficient for their needs. These apartments typically range from around 300 to 700 square feet, offering a compact living space with basic amenities.

Families or individuals requiring more space may opt for larger apartments, such as two or three-bedroom units. 

These apartments can range from 800 to 1,500 square feet or more, providing separate bedrooms, a living area, a kitchen, and possibly additional rooms like a dining area or home office.

Do People Call Apartments Condo?

Do People Call Apartments Condo?

No. This is because condos and apartments are different types of housing. An apartment is rental housing which is located within a building or complex which have a landlord or property manager who is responsible for it. 

People have two types of housing options they can consider. Either a condominium, known as a condo, where individual units are owned by different people. 

Each condo buyer hosts proprietary ownership rights to their unit but also has the joint ownership responsibility for the principal areas, which are not in their ownership but belong to the whole co-ownership. 

Through the condo fee, the owners have the condo association manage things like the building and the common area. People tend to consider correctly the term “flat” or “block” precisely because this label reveals the ownership and management scheme of this housing unit. 

This may be why people call the property a condo instead of a rental unit as it sends a wrong signal that is ownership instead of tenancy.

CSN Team.

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