What is the difference between an apartment complex and a condo?

Apartment complex

* A building or group of buildings with multiple apartments, each of which is rented to a tenant.

* The landlord is responsible for the maintenance and upkeep of the property.

* Tenants usually pay a monthly rent, which may include utilities.

Condo

* A type of housing unit that is owned by an individual, rather than rented.

* The owner of a condo is responsible for the maintenance and upkeep of their unit.

* Condo owners typically pay a monthly homeowners association (HOA) fee, which covers the cost of common area maintenance, such as landscaping, swimming pools, and gyms.

Key differences

* The main difference between an apartment complex and a condo is that apartments are rented, while condos are owned.

* This difference has implications for the responsibilities of the tenant/owner and the cost of living.

* Tenants of apartments typically have fewer responsibilities than condo owners, as the landlord is responsible for the maintenance and upkeep of the property.

* Condo owners have more control over their living space and can make changes as they see fit, but they are also responsible for the cost of maintaining their unit.