Difference Between Condo and Apartment
Posted on July 7, 2012 by admin Condo vs Apartment Apartments and condominiums (called condos in short) are dwelling units that are very similar in structure and purpose. They are both used for residential purposes and called by either name depending upon the part of the world you live. However, it is not that the two properties are the same and the two names can be used interchangeably. At least, there are legal differences that will be highlighted in this article. Condo Condominium is a large property complex where individual housing units are owned by individuals whereas common property such as stairs, elevators, gardens, swimming pools, halls etc are shared by all owners and owned by an association of owners. In general though, the word condominium is used for the dwelling unit that is otherwise called an apartment in many parts of the world. Condos are owned and not rented as is the case with apartments. The word condo is typically used mostly in US and Canada. In the case o...