Although a condo is typically individually owned, like a house, it can be rented out by the owner to a tenant, similar to renting out an apartment. If you decide to buy a condo, you’ll be responsible for all the upkeep in addition to paying the HOA fees to upkeep the community areas. But when it comes to renting, is it that much different renting an apartment than a condo? Well, it can be.
Renting a Condo Vs Renting an Apartment
As a tenant, if you rent a condo then you’re renting from an individual landlord. This can be very different than renting from an apartment community. For instance, the landlord may have different rules or requirements because technically it’s a personal asset. They can set the rent and deposit at whatever price they want, and most likely there won’t be any discounts or special pricing available. Also, there won’t be any maintenance crew on hand to fix things if something goes wrong. So you’ll have to contact your landlord who will then have to contact their preferred maintenance provider. This may mean you’ll have to wait longer to have things fixed.
When renting an apartment from an apartment community you’ll have access to many more community amenities and a hands on maintenance crew who can fix issues at a much faster rate. Deposits and rental prices are are offered in a variety of floor plans and many times there are specials where you can save a month or two of rent. When renting at an apartment community you may have an option to upgrade to a different floor plan when your lease is up depending on what’s available. Renting from an apartment community is a more streamlined experience overall and often times has more options to choose from rather than renting from an individual landlord.
So what’s better for you? That just depends on what’s available in your location. It may be best to check out both options to see what fits your needs.