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Home / Buy and Sell / Investment / What is the difference between a condominium and an apartment?
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What is the difference between a condominium and an apartment?

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1 2021-09-20T22:48:58+00:00
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Condominium is not a common residential arrangement in India but we are aware of the term. Here in our country, terms like apartments and flats are more familiar. But you know I have been wondering for a long time what is the difference between a condominium and an apartment. To eliminate this confusion of condominium vs apartment for you, I am here. I am going to explain it from my understanding, let me know if this helps you.

Condo vs Apartment

Before diving into the condominium vs apartment debate, let us understand them on a basic level. A condo is a part of a large building which has separate single units. An apartment is owned completely by an individual or single entity. Here is the table to differentiate between the two:

Particulars Condominium Apartment

Ownership

In a condo, the individual owner is the landlord, however, it is managed by a property management company

An apartment is owned by an individual or corporation for which services are provided by the corporation of the society

Cost 

Condo is usually priced at a lower band to suit an individual

Apartment is priced at a higher band as it usually is owned for families

Maintenance 

The maintenance for a condo is done by the property management company so you will have to pay extra charges

An apartment is usually maintained by the family but the building is managed and maintained by the corporation 

Number of units

A condominium is formed with 3 to 5 units

A building must have at least 10 families in it to call the housing units an apartment

These are a few points to highlight condominium vs apartment. 

Read more  What is condominium What is apartment

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