Most people look at both apartments and condominiums in Edmonton, but there are quite a few people that are left wondering what the difference is between the two. This article will help potential buyers and renters tell the difference between the two, and decide which one will be best for them.
The rent for apartments and condos are similar when it comes to money coming out of the bank every month, but there are also a few differences. When people rent a condo, they usually have to pay certain fees to a homeowner's association. They may also have to pay fees for things like using the freight elevator or other amenities.
Speaking of amenities, these are another area where there is a difference between apartments and condos. Some apartments may have a local swimming pool, but that's usually about it. Some condos offer things like outdoor sitting areas, swimming pools, maybe a dog park, or even a gym. This does vary by the building, though.
While this is not the way it is for every building, most people notice that condos are usually nicer than apartments. The finishing touches are better, the owners pay more attention to detail, and the appliances are usually more up to date. When it comes to apartments, tenants never really know what they're going to get until they walk inside.
Because of the higher standard that comes with condos, there are usually stricter rules. Tenants may only be allowed to hang a certain style of blinds instead of curtains or only paint rooms a certain color. No smoking rules are also more likely to be enforced when it comes to an Edmonton condominium.
Usually, an apartment building is owned by a professional company. This company will also typically have a maintenance crew to handle any issues that arise.
Condos are usually owned by an individual person. This can mean that it may take longer to get things fixed, but it also means that a tenant can develop a more personal relationship with their landlord.
There are good sides and bad sides to both management styles. Keep in mind that this is a general rule of thumb, but there are exceptions. Larger companies are also known to own Edmonton condominiums in addition to other properties.
One of the main distinctions between a Edmonton condominium and an apartment is that it is possible to own a condo. These are often sold to individual owners. Apartments, on the other hand, are leased to tenants for a specific period, which is often one year.
It is not possible to own a single apartment in a building, but it is possible to own a single condo in a building. Some companies that own both condo units and apartments simply call the ones that are only available for rent apartments and the ones that are for sale condos.
Overall, there are a few differences, but most of these differences depend on where the building is at. Some condos may be more lenient about the appearance of the unit and some apartment building owners may be stricter about what type of blinds are hung up.
The primary difference that will affect most people is ownership. If a couple is in the market to purchase a place to live instead of just renting, an Edmonton condominium is the perfect choice.
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