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Generally, both are apartments within a multi-unit building. The major difference lies in the ownership structure. February 4, 2022. Spray Background Green. Mar 5, 2021 ... Apartments and condominiums (or condos for short) can be identical units within the same building - the difference between them is ownership. May 12, 2010 ... In the building code they would be an R-2 which is the same as an apartment (the only real difference between the two is that you rent one and ... Feb 3, 2020 ... A condominium is a type of property where you own a residence and co-own a share of the community property or 'common elements' with other people. The main difference between a condo (or condominium) and an apartment can be summed up in one word: ownership. Apartments and condos are units within a building ... Nov 28, 2017 ... A condo is simply a more specific form of an apartment. That means a condo will always be an apartment, but an apartment doesn't necessarily always have to be ... Nov 15, 2022 ... The most notable difference between an apartment and a condo is ownership. A tenant in an apartment signs a rental agreement with the owner of the building and ... Nov 21, 2021 ... The only difference between a condo and an apartment is in the way you make your monthly payments. Condos are managed by a Homeowners' Association (HOA) and ... Aug 7, 2022 ... Unlike condos, townhouses typically include ownership of the land the property sits on. This means you'll have more control over your property, ... Aug 28, 2023 ... Comments Section ... An apartment is rented. You would sign a lease and pay a monthly rent to the landlord. A condo is purchased. You would pay ...