What is the difference between condominiums and apartments?
The main difference between a condominium and an apartment is with regards to ownership. An apartment is owned by an individual or company who rents the units out on a short or long term basis. A condominium on the other hand is owned by individuals who are the shareholders of the property. Each individual shareholder contributes a monthly maintenance fee. In terms of facilities, apartments and condominiums are comparable to each other. Condominiums are more likely to have outdoor facilities like children’s playground and garden.
Related Questions
- My condominiums/apartments/mobile home park does not use the Township sponsored waste collection program and our waste hauler does not offer a recycling program where can I recycle?
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