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In some cases a condominium is like an apartment. However, a condominium is form of fee ownership ( each unit owner is the absolute owner of their unit) by which several owners share ownership of a building(s) by each owning their respective units. In a condominium scheme each unit owner also owns a proportionate interest in all other common areas of the project such as the grounds, pool, laundry facilities, community rooms, etc.
An apartment is generally a rental unit in the US and Canada. In Europe, an apartment can be a rental unit or a unit in a building that is owned in fee much like a condominium.
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Whats the difference between a condo and an apartment?
Always, you can own a condominium. And some condominiums are called apartments. You cannot always own an apartment. When you cannot own an apartment, it is not a condominium.
What is the difference between a condominium and an apartment?
The official difference is in ownership: an apartment is owned by a landlord who may also own other apartments in the same complex; a condominium is owned by a single owner and that ownership includes a percentage ownership in the community's common areas. A condominium may be in the style of an apartment, especially, in urban high-rise buildings.
Can you own an apartment?
Yes, you can own an apartment. When an apartment is owned by an individual, it's called a condominium (condo). The building or apartment must be designated for individual sale, you can't purchase just any apartment in any apartment building.
What is another word for extreme habitat?
Abode,apartment,cave,condominium,den,and enviorment.
Is it possible to rent a condominium in the Hamptons?
A list of condominium rentals in the Hamptons can be found at HomeAway, Hamptons FlipKey, For Rent, VRBO, Zillow, Trulia, Apartment Finder, and StreetEasy.
What is the difference between condominium and apartment?
In the United States a condominium is a form of fee ownership of a unit in a multi unit complex. An apartment (sometimes called a flat) is typically a rental property consisting of a room or suite of rooms in a building containing a number of such dwellings.
Is business allowed in residential areas?
Is it legal to use your apartment (condominium) as a home office in New York City
What is a condominium slip?
According to the Fairfax (Virginia) Yacht Club:"A condominium slip is similar to an apartment condominium in that the owner receives a deed (which is insurable and recorded in the County Land Records) which carries with it the exclusive right to the use of the slip (the slip is owned by the owner and not rented or leased from the marina)."
What is the major difference between public owned and private owned forest land?
A condominium is an apartment that is owned by the resident rather than a landlord.
What is the difference between a apartment and a unit?
Depending on the context, these two terms could mean the same thing: other descriptions for a residence or commercial space. Usually an apartment is the name of a residence in a building where there are other residences -- typically more than four. There are locales where one can purchase their 'apartment', and its ownership is either in the style of condominium or co-op. In condominium and co-op governing documents, sometimes a residence is called a 'unit' meaning a residential unit or a commercial unit.
How much do you pay someone to show a 1 and a 2 bedroom rental apartment condominium near the Galleria in Houston?
A local realtor can help you price the value of this service.
How do you find out legally if an apartment-style condominium has a garage?
The local hall of records has documentation to indicate the amenities attached to a condominium unit. The document you want is the Condominium Conditions, Covenants, Restrictions and Reservations (CC&Rs), which are the land-use definitions for the property. This document will list the assigned parking by unit and usually describe it, i.e., garage, open air, covered, and so forth.
