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Condos VS Apartments

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JRV


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Does anyone here know what the differences between condos and apartments are? I know with apartments the landlord has keys and can enter your apartment basically whenever they want. How do condos work? Is there a building manager? Who has access?
 
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A condo is a self contained apartment within a shared building that you own. In fact strictly speaking, it is the building that is the Condominium, not the apartment.

The difference between an apartment and a condo, is that the latter is owned and the former is rented.

If you own a Condo, no one but the owner is allowed to enter. If you rent an apartment, the Landlord may enter by prior arrangement.
 
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Also: you get no tax breaks by renting. But a condo has a mortgage, and thus, mortgage interest, and a mortgage interest deduction. As in: If you are in a 28% tax rate bracket, and have a $1300 monthly mortgage payment with about $1000 in interest every month, at the end of the year you can expect to deduct 12 x (1000 x .28) from your taxes.

Always a good thing ;-)

P
 
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Often condos also have an association fee that you get charged for maintenance of the grounds
 
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a condo you tend to get better people living there because they own it and take care of it. apartments are rented and renters tend to trash things because they don't own it. renters tend to not give a hoot about anyone or anything but themselves. renters where I live will toss trash on the ground for example or blast loud music in their cars. no respect for the other people that live here. not sure why they have this mindset but some of them do (not all of them). I rent but I still like to live in a nice clean place where stuff works and is not broken. not every renter thinks like this of course.
 

chscag

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Probably would have been better to start a new thread on this subject rather than to reply to one that is 10 years old?
 
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Probably would have been better to start a new thread on this subject rather than to reply to one that is 10 years old?



NOTE TO SELF = must check original subject date more closely before opening!!! :*




- Patrick
======
 
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