What is the Difference Between a Condo and an Apartment?

Comparing different types of homes, most often the biggest difference is in the architectural features. A single-family home stands alone. A townhouse shares sidewalls with it's neighbors and often has two or more stories. A duplex is built like a single family home, but is split into two different homes down the middle - often with mirror-like design. But what exactly is the difference between a condo an apartment?

Good question. In terms of architecture, condos and apartments are very similar. Let's dive into what defines condos and apartments to explore what makes them different.

What Condos and Apartments Have in Common

Architecturally, a condo building and an apartment building could be identical. They have almost all the same basic structural features.

Both are larger buildings that contain multiple homes. The buildings are typically two stories or higher (sometimes much higher), while each home typically occupies one story with a floorplan ranging from one to three bedrooms. Both condos and apartments have parking and building amenities shared by all the residents. So what, exactly, is the difference?

A Matter of Ownership

The biggest difference between a condo and an apartment is ownership. Condos are privately owned and, in fact, represent a very special type of home ownership that is rarely seen outside of condo buildings. Condo owners are responsible for the cost of amenities and maintenance of the entire building because they share ownership. Condos also must be sold for the residents to move out, and some condo associations even ban owners from renting their condo to others.

Apartments are owned by one person or company. Each home inside an apartment building is then rented to residents who sign a lease to stay or move as they see fit. Apartment maintenance costs are budgeted from the income of accumulated rent, and residents don't need to worry about the building or grounds.

Condo Ownership

Each individual home in a condo building is privately owned. They own the entire space which extends to the walls, but not behind the walls, as the in-between spaces are shared with nearby neighbors. This can make renovations tricky, and changes to a condo are often highly regulated by the condo association.

Condo Associations

A condo association is similar to an HOA (home owner's association) for a single condo building. The members are all the condo owners in the building. They have founding rules and bylaws and elect a council from the owner-members.

Condo owners have to pay their share of building maintenance and upgrades. This can lead to rent-like expenses in addition to the mortgage on the condo itself. Surprise repairs and new upgrades can add a "special assessment" expense to the year's payments, as well.

Condo owners vote on decisions for the building, changes to the rules, and new council membership. Condo associations can be a cool self-governing structure, but they can be just as much trouble as a typical HOA.

Apartments are Rented Homes in a Shared Building

An apartment is a much simpler arrangement compared to a condo. Each resident rents one apartment home in the building. They are responsible for general cleanliness and upkeep, but the apartment building owner is responsible for all major repairs, maintenance, and building upgrades. This ensures that the cost of living in an apartment is easy to calculate with no need for residents to worry about building maintenance in a well-run apartment community.

Access to apartment amenities is always shared. While some apartment communities charge for use of certain amenities, most of the time use of shared spaces and even luxury features will be included in residence and rent.

Apartments are typically rented one year at a time through a lease agreement, and residents are free to move or renew their lease each year, with no additional hassle whether they want to change locations or stay for many years.

Condos vs Apartments: Interchangeable Architecture

The architecture of a condo building vs an apartment is almost exactly the same in construction principles. In fact, it is entirely possible to buy an apartment building and sell the units as individual condos - or even to (somehow) acquire an entire building that was once condos and rent the units as apartments.

Apartments can be quite high-end in architectural design and apartment buildings can have excellent amenities, while condo buildings can age rapidly due to the conflict between owners on how to maintain each home unit and hesitance to invest in building-wide upgrades.

The only difference architecturally between a condo building and an apartment building is how it is owned - and how it is managed.

Welcoming Apartments in Baton Rouge

If you are looking for a new apartment in Baton Rouge, explore the welcoming atmosphere and well-maintained community of 21 South at Parkview. We pride ourselves on providing a beautiful and enriching environment for residents that rivals condo life with every cozy floorplan and pristine amenity.