Should You Rent an Apartment or A Condo?

It's not always obvious whether a rental listing is for an apartment or a condo, but you'll notice differences if you pay a visit and look at what's being offered. While the rents might be similar, you'll find that what you get for your money and your actual cost can vary a great deal.

Here are some key differences to consider when you are trying to decide between renting a condo and renting an apartment. Keep in mind that the difference might not be that big, but you will only find out by asking.

Move-in Cost: Both condos and apartments will probably require security deposits to move in, but a condo will often require you to pay for use of freight elevators, access to docking bays, and other services moving services. In contrast, most rental properties will not ask for anything beyond the rent and deposit.

Included Utilities: What's included in your rent can vary a lot from place to place, but you can generally expect condos to include certain utilities like garbage, water, electricity and even internet. On the other hand, apartments will likely require you to take over any bills -- water and garbage being the only exceptions.

Amenities: The amenities in a condo are often more about the owner's tastes than the desires of renters. You might get lucky and find a condo with modern appliances, hardwood floors, etc. but you might also get a bare bones place. This is especially true if the condo was never used as a home by the renter.

Rental apartment owners will typically keep an eye on what amenities are popular for renters because it's part of how they differentiate their units. Of course, the amenities available will have a lot to do with the price, but you are still likely to have a few more bells and whistles.

Rules: Condos usually come with condo associations. Condo associations mean rules and regulations that you need to follow in order to remain a tenant. Unlike a rental, condos can determine their own rules about behavior and you are left with fewer options if you come into conflict. In most cases, you'll be expected to behave the same way you would in a rental unit, but be aware of clauses that might make condo living riskier.

Both Condos & Apartments Can Be Great, But Ask Questions
The key thing when shopping for housing is to ensure you understand the building rules, the costs, and the expectations when you move in. Whether you are looking at a condo or an apartment, make sure to ask plenty of questions and thoroughly review your lease before you sign.

 Author Bio:

 April Lavine has many years of experience as a real estate agent and broker in multiple states condos for sale in Irvine. Presently, she is working with Irvine Residential Living. Employing her experience in this field, she shares her insight on various aspects of real estate in her writings.

How would you tag this post?
Do you like this post?

Showing 3 reactions

posted about this on Facebook 2022-03-09 08:40:18 -0500
Student Forum: Should You Rent an Apartment or A Condo?
@HCA_fortmyers tweeted link to this page. 2022-03-09 08:40:07 -0500
published this page in Student Forum 2022-03-09 08:39:59 -0500