What's the difference between a condo and an apartment? Let's dive into cost, pros and cons, and more! A condo is owned by an individual while an apartment is owned by a landlord.
Check the amount and terms of the underlying mortgage if the complex is a coop. When does it expire; what are the terms of refinancing. Is there a balloon mortgage coming due soon? Check the percentage of sold units, owner occupied units and rental units. Generally, the higher the owner...
A condo, short for condominium, is an individually owned residential unit in a building or complex comprised of other residential units. Condo owners share a common space and often pay association fees to maintain the common space, amenities, and other shared resources. What Is the Difference Bet...
A condominium fee, also known as anHOA fee, is the amount condo owners are assessed each month for the upkeep of common property, amenities, maintenance, and day-to-day management of the complex. While it can be a relief for some homeowners to pay a fee in exchange for services, there ...
purchases from some home purchases is having to pay fees to a condo association orhomeowners association (HOA), although many owners of non-condo homes are required to pay HOA fees, too. This money covers the cost of maintaining the outdoor spaces and common areas within the condo complex. ...
Condo owners may even rent their units for years and still choose to move in themselves later down the road into their living space. This is a stark departure from a standard apartment community or housing complex where all rental units share a singular owner. ...
So,what makes a condo different from an apartment?In terms of physical attributes, nothing. The difference between the two stems from ownership. You now know that an apartment is housed within a complex (filled with other apartments) that is owned by a single entity, often a corporation, and...
What is a condo? In spite of commonly attributing condominiums to tall buildings we see in the city, condo pertains to the type of ownership and not to the type of building. Distinction between different types of home usually comes down to the type of ownership. ...
1. A condominium association is a governing body that manages and maintains a condominium complex’s building, common areas, and facilities. 2. They are typically run by a board of directors or an elected group of homeowners. 3. The association enforces rules and regulations to maintain the ...
What happened next is a bit hazy, thanks to a drink spiked with the date-rape drug known as GHB. From what I can vaguely piece together, though, three men persuaded me to follow them in a cab to a condo downtown. The next thing I remember is fighting them off as I was raped. ...