Apartments and Condos: Differences and Similarities

Individuals can make informed decisions when choosing their ideal housing arrangement, whether a condominium or an apartment.

FREMONT, CA: Real estate offers two popular housing options, condominiums (condos) and apartments, with unique features and ownership structures. While providing multifamily housing, ownership, maintenance responsibilities, and community dynamics differ. The critical distinctions between condominiums and apartments lie in their ownership structure. Condominiums are a form of housing where residents own their units but share common areas like hallways, exercise rooms, and swimming pools. A single entity, an individual landlord or a property management company typically own apartments. 

Residents of apartments lease their living spaces and do not own any portion of the property. Each unit is owned by an individual in a condominium, allowing them to personalize and alter their space. Condo owners can sell or transfer their teams to others, providing a sense of property ownership similar to single-family homes. Apartment dwellers have limited control over the design and layout of their living spaces, as the property owner often determines these decisions. 

HOAs are responsible for establishing and enforcing community rules, managing typical areas, and collecting fees for maintenance and repairs. Shared governance ensures that decisions affecting the entire community are made collectively.