Why is a healthy reserve fund important for condo owners? What happens if a condo building needs major repairs and doesn't have enough in the reserve fund?

Nov 21, 2023 ... The main difference between a condo and apartment is that an apartment is not available for sale and complete ownership. Meanwhile, you can buy ... Aug 8, 2023 ... Condominiums are similar to apartment buildings. They're often found in urban areas and might include dozens, or even hundreds, of units. Condos ... Jul 22, 2017 ... The main difference between an apartment and a condo is the ownership. A corporation typically owns an apartment complex, while an individual owns a condo. Apr 22, 2022 ... Condos may be more expensive to buy, but easier to finance. Apartments in cooperative buildings tend to cost less, but are harder to finance. A ... The main difference between a condo and an apartment is in the ownership of the property. With a condo, the units are individually owned. Meanwhile, with an ... Oct 25, 2024 ... What's the Difference Between a Condo and a Townhouse? · It's an apartment-style building structure. · The living space is typically on a single ... However, townhouses and condos are also available to rent. Now that you know what some of your options are, learn more about the differences and compare the ... Condos. Condominium units differ in ownership from apartments because each condo typically has a unique owner. All the homeowners within a condo building will ... 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 6, 2023 ... Generally, condos offer more amenities than apartments. The HOA board allows the owners to provide their input on how the condo should be ...