Apartment Vs Condo: what is the difference?
When searching for a flat, there are both apartments and condominiums being advertised, but what’s the difference?
So, here’s a quick guide to what distinguishes an apartment from a condominium.
Ownership for apartments and condos
The most significant difference between the two is ownership.
Apartments
When it comes to an apartment block, all the dwellings are typically owned by a corporation, or single entity, which rents them out to tenants. The company governs the complex and enforces strict rules on what tenants can and cannot do inside their units.
For example, some rules ban pet ownership, parties, and renting out your flat without permission.
In a condominium block, the dwellings are owned by different individuals, who team up to make a body corporate, which is also known as an owners corporation. They pay fees into a central fund for repairs and maintenance on common property and are responsible for their own dwelling, but must abide by rules set by the body corporate known as by-laws.
Generally, these complexes are more relaxed.
Maintenance
The person responsible for undertaking repairs and maintenance in an apartment block is generally different from the person responsible in a block of condominiums.
Apartments
An apartment complex will have a property manager. This is a dedicated staff member paid to maintain common areas and undertake repairs inside each dwelling.
Typically, they live on the premises, with rent factored into their salary. Within each individual unit, their responsibilities include plumbing, electrics and pest control.
They also take on the responsibilities of rubbish collection and security, and enforce the apartment block’s rules on what tenants can and cannot do.
If you live in a condo, you do not have a property manager. Instead, you have a body corporate, which is made up of owners.
The body corporate is responsible for arranging maintenance on common areas, but usually hires external contractors to carry out gardening, plumbing and pest control.
However, individual unit owners are responsible for the maintenance of their own units. Which means you will have to carry out maintenance and repairs yourself, if you own the dwelling, or ask for assistance from your landlord or real estate agent if you’re renting.
Size and design
There are no rules related to how an apartment or condo should be designed, and there is a lot of variation among them. However, there are a few physical clues to help you distinguish one from another.
Apartments
Uniformity is generally the sign of an apartment block. Each dwelling in the complex has almost identical interiors, in terms of both their layout and features.
Apartment blocks also tend to have a lot more security, such as swipe-activated doors and a foyer. Quite Condos
Condominiums tend to differ from one another more.
Often, the insides of each condo will mimic that of a detached house. Layouts will vary, as will the materials used and appliances included.
Added amenities
There isn’t supposed to be any difference between the types of amenities in apartments or condos. However, because of their professional management, apartment complexes often have more extravagant extras.
These can include gyms, lifts, rooftop barbecue areas, spas and saunas, which are also found in condominiums, but less often.often, they also have a list of rules in the entrance of the building or lift.
