Condoes and apartments what is the difference?

Question

I was just wondering this just because it came up. When you are living in an apartment what is the difference between a condo as well. Like in other words can you have as many people as you want in a condo? Do you have to put them in a contract how many will be living with you? I would like to live in a condo, but I also want to take my younger sister with me to live. Can anyone give me as much information as possible.

Answer 1

Condominium means that you don't own the land under your "home".  THe ownership is "shared".  You can not draw a line on the ground showing exactly what you own and what your neighbor owns.  

This shared ownership could be true of a townhouse, a patio home, a villa, and even a house.  Because in a "condominium"  there are community pools and parks which are shared.  You own the pool but you can't stop someone from using "your" portion.

In slang we say "condo" when we are talking about an apartment that you own.  So there is no difference between a condo and an apartment.

It would be rare to have a limit of people in a condo rulebook. Each condo has 2 parking spaces and that is where the problem starts.  If you had 10 people in the condo, there is no where for them to park.  2 is fine. You own the condo so you don't have to write a contract about how many people will live there. /

Answer 2

You rent an apartment and normally you buy a condo.  Occasionally however some developers or owners will rent out their condos.  So it really depends on the rental contract you get with the renter of the condo.  Normally because most condos are purchased the agreements are not as strict as apartments.  Good Luck

Answer 3

You know that whole all squares are rectangles, but not all rectangles are squares thing? In a sense, all condos are apartments, but not all apartments are condos.

An apartment is a self-contained housing unit that occupies only part of a building. Apartments may be owned (by an owner-occupier) or rented (by tenants).

Condo: Individual ownership of a portion of a building, with common areas shared by all owners. Maintenance fees called "assessments" are paid to the condominium association to maintain, repair, or improve the property.