When it comes to searching for a new place to live, you’ll likely have a variety of condos and apartments to pick from. Before you make your decision, it’s important to first understand the differences between the two. Armed with this information, you’ll be able to decide whether condos or apartments for rent are right for you.

Understanding the Difference Between Condos & Apartments

1. Ownership

One of the most significant differences between condos and apartments for rent is ownership. Generally, condos are owned by individuals and managed by the community’s Homeowners Association (HOA). Apartments, on the other hand, are owned and managed by a larger company, who handles all tenant leases directly within their leasing office.

2. Fees

Another difference to consider is fees. While the average monthly costs for apartments and condos are comparable, keep in mind that condos managed by an HOA will often include additional fees as part of their monthly rent. These fees go toward events and overall repair needs to ensure your community remains well-kept and that you have opportunities to socialize with your neighbors.

3. Amenities

Amenities are another important consideration, as these will vary greatly from apartments to condos. Since apartment complexes compete for your rental tenancy, most will offer a host of on-site amenities for your convenience, including pools, barbecue grills, outdoor sports courts, laundry facilities, entertainment rooms, and more. As a general rule, condo amenities are dependant on the landlord's discretion and the HOA budget and will vary widely from community to community.

4. Maintenance

Before signing an apartment lease or purchasing a condo, it’s also important to get a clear idea of the level of maintenance support you can expect. For apartments, renters are usually able to request service for any furnishings or appliances provided to them by the community. Condo maintenance is a little less straightforward. Generally, your HOA will service building exteriors and shared common areas, while the homeowner is responsible for any issues occurring within their interior unit. However, it’s a good idea to clarify what service is included in your purchase agreement before signing on the dotted line.

Looking for available condos or apartments for rent near you? Whether you want to buy or lease, turn to Traditional Trades. Based in Onalaska, WI, their team of experienced home builders has more than 27 years in the home building industry and is dedicated to providing quality service and attention to detail. Give them a call today at (608) 783-4785 today for more information on their apartments for rent. You can also visit them online for details on their senior living facilities and other available properties.