The Main Differences Between an Apartment and Condo

Most people don’t actually understand the difference between an apartment and a condo.

If you’re in the market for a new apartment and you do a search online, you’ll often come up with both apartments and condos that are available in your area. Most people don’t actually understand the difference between an apartment and a condo and use the two words interchangeably. This is because, looking at them online, they seem to be pretty similar. So what is the difference between a condo or an apartment? Read on and we will enlighten you.

What Is An Apartment?

An apartment is a rental unit in a larger building, usually consisting of a few rooms. Apartments are usually similar to other units in the building, with each type of unit having a similar or maybe even identical layout. Apartments are usually managed by a company, and the companies offer 24-hour maintenance. Apartments usually also offer various amenities in the community, like gyms, pools, and other things, and access to those amenities is usually included in the cost of rent for the apartment.

What Is A Condo?

A condo is also a home you can rent. It is a private residence, sometimes as part of a bigger building (similar to an apartment), but more often as part of a larger community (like a series of connected homes). Usually, the condo owner has only one or two units in the area and often they have actually lived in the unit before renting it. Condos are not typically owned by companies. With a condo, your landlord is almost always going to be an individual person who is leasing out the home. Finally, this means that if you are ever interested in buying the home, you may be able to (assuming that the owner is willing to sell). 

Which Is Better: Apartments or Condo?

Neither option is inherently better, but either an apartment or a condo might be better at suiting your needs. If you are a first-time renter, you may find it easier to rent an apartment. Renting from a company is often easier and more uniformly streamlined than renting from a private owner. There are fewer potential bumps in your renting road. Apartments also often (but not always) offer more amenities than condos. Condos on the other hand usually offer more living space than apartments, but they may be subject to HOA fees in addition to rent. The rent may be more expensive for a condo also, so you may be more likely to need to consider having roommates. With an apartment, you may have additional fees for pets, but other than that, the rent is pretty standard. 

Come Home to Comfort and Convenience at Prescott Square Apartments

Nestled in the wooded hills of Pikesville, yet just moments away from Baltimore, Reisterstown, Randallstown, Millford Mill, Gwynn Oak, Old Court, Owings Mills, Garrison, Lochearn, and Windsor Mill, Prescott Square Apartments offers spacious apartment living spaces for everyone! We offer two-bedroom homes with wall-to-wall carpeting/hardwood flooring, central A/C, access to oversized patios/balconies, and maintenance whenever you need it. To set up an appointment to take a look at our apartments, call us at 443-213-8584 or visit our website!