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No, "condo" means they are owned by the occupants. "Apartments" are generally rented, although you might hear someone say "I bought my apartment" if they purch
by jessriedel 9y ago
No, "condo" means they are owned by the occupants. "Apartments" are generally rented, although you might hear someone say "I bought my apartment" if they purchased a dwelling in a building that is mostly for rent.
- jjeaff 9y agoActually, it is more specific. Condos are like apartments that you own where the roof, plumbing beneath the floor (sometimes), and exterior are owned and maintained collectively by something like an HOA. But if you own and maintain the roof and exterior of your place up to the place where it adjoins to other units, then it's actually a townhome.
- jessriedel 8y agoI wasn't claiming that condos are defined only by being owned, just that they are necessarily owned.
- cylinder 8y agoIt doesn’t have anything to do with occupants. Condos can be rented out too. It’s a legal term having to do with division of titles, common area ownership, etc
- jessriedel 8y agoSure, sorry, yes. It's not the occupant's ownership per se, it's that the units are owned individually (and hence have to have rules governing shared-use stuff like elevators).