What’s the difference between a condo and an apartment?
You might be one of those people who is not sure whether to live in a condo or an apartment. And this is expected as condos and apartments seem the same to some people. Unless you are a property mogul like Steven Taylor LA Los, chances are you don’t know the difference between a condo and an apartment. In this article, you’ll learn how the two differ.
What is a condo?
A condo (which is often called a condominium), is a private residential property that real estate entrepreneurs can own and rent out to tenants. It’s not unusual to find that Los Angeles Real Estate is the only condo owner, but at times it may be co-owned.
One of the advantages of having a condo is that it doesn’t cost a lot to maintain. It comes with amenities such as swimming pools. Over and above that, it is affordable compared to purchasing or leasing a house. Another benefit of having a condo is that, unlike apartments, condos are typically not the same. You’ll find that one condo has a totally different design and a different price. However, what may slightly put you off is the Homeowner Association which is responsible for making all the rules. Another downside of having a condo is you don’t enjoy the privacy most house owners enjoy. You also need to be prepared to share amenities with other tenants.
What is an apartment?
An apartment is a residential property that is usually owned by one person and is usually part of several properties. There is a company that is responsible for the security and upkeep of the entire block of apartments. When you live in an apartment you and other neighbors live in the same properties and pay the same rent.
However, you have an option asking for upgraded appliances, then pay a little more. Just like a condo, apartments have amenities of their own. The most common amenities you will find in complexes include a swimming pool, gym, free parking, and on-site laundry.
Who maintains condos and apartments?
Condos and apartments don’t handle maintenance the same way. If you live in a condo and something breaks down, you need to contact the landlord immediately. You will have to wait for the landlord to call someone to come and fix whatever needs to be fixed. Whereas with apartments it’s typically a different process. Apartments will usually have a dedicated maintenance team that you can contact anytime. Normally, maintenance issues are handled within 2 days.