Which one to rent - Apartment or Condo?

[viveksharma]

Folks,
I am in a confusion and unable to decide on what type of accommodation to rent - A condo or an apartment. The rent of apartment is lesser than that of Condo. I heard that due to its proper maintenance, a Condo is more livable and hence, has higher rent. Is it true? Is it always advisable to rent a Condo than an apartment? What if one is getting a new apartment? I heard the apartment mostly has aging problem such as bedbugs etc . Is it true guys. Please help.


Also, what is difference between a suite and Condo/Apartment please.

 

[foodie69]

The difference between an apartment and a condo is ownership. Apartments are leased to tenants for a pre-designated period of time, while condos are owned by individuals who either live in them or rent them out to others

 

[viveksharma]

The difference between an apartment and a condo is ownership. Apartments are leased to tenants for a pre-designated period of time, while condos are owned by individuals who either live in them or rent them out to others

Thanks buddy. I am (also) interested in knowing what a suite is. In what sense suite is different from condo/appt.

 

[rizmayo]

Folks,
I am in a confusion and unable to decide on what type of accommodation to rent - A condo or an apartment. The rent of apartment is lesser than that of Condo. I heard that due to its proper maintenance, a Condo is more livable and hence, has higher rent. Is it true? Is it always advisable to rent a Condo than an apartment? What if one is getting a new apartment? I heard the apartment mostly has aging problem such as bedbugs etc . Is it true guys. Please help.


Also, what is difference between a suite and Condo/Apartment please.

As stated above, the only difference between Condo (apartment owned by an individual) and apartment (the whole building owned by the same company or individual) is ownership. That being said, you can find problems in both places due to age. It is always better look at the place and neighborhood before signing a lease.

Suites traditionally referred to furnished apartments, but now ppl use that term for general apartments as well.

 

[sharat_joshi77]

As stated above, the only difference between Condo (apartment owned by an individual) and apartment (the whole building owned by the same company or individual) is ownership. That being said, you can find problems in both places due to age. It is always better look at the place and neighborhood before signing a lease.

Suites traditionally referred to furnished apartments, but now ppl use that term for general apartments as well.

As mentioned by senior members, ownership is one differentiating factor in Condo/ Apartment. And you should definitely look at the neighborhood before renting anything.

However, as a new person coming in, I see below points useful as well while deciding which one to rent:

1. Condo is generally a new construction than apartments and has amenities like Gym, Sauna, Pool onsite. Apartment usually does not have these facilities becasue most of them are quite old (constructed in 30-40 yrs ago)
2. Due to new in construction, Condo's have better air movement than apartments. Apartments corridors sometimes block cooking fumes from units and might be unpleasent to some
3. Due to old construction and way of heating vents, apartments are more susceptible to cockroaches problem than condos. This problem can however be anywhere in condos or apartments
4. Condo's are generally smaller in size. I have seen 1 bedroom condo's which are way smaller than 1 bedroom apartments.
5. condo's might have laundry in the unit itself. Apartments usually have common laundry in basement
6. Most apartments have rent which includes heating and electricity costs. Condo's usually have separate costs
7. Condo's usually come with parking space. In Apartments, you have shell out extra for parking space


These are some points I experienced while I was searching for my first rental place, and some of them experienced after moving in the apartment.
You can decide pro's and cons of both depending on your situation and decide for yourself.

Hope it helps.

 

[namratha_s]

condo is cheap and best as well as clean n many facilities. apartments are horrible with bugs n stuff. so go for condo

 

[foodie69]

condo is cheap and best as well as clean n many facilities. apartments are horrible with bugs n stuff. so go for condo

Wow..words of wisdom..NOT. You cannot generalize. Condos are cheap? Come and live in Vancouver then.

 

[sharat_joshi77]

Wow..words of wisdom..NOT. You cannot generalize. Condos are cheap? Come and live in Vancouver then.

Yeah. Even in GTA, condos are way costlier than apartments.
I can understand the bug issue might be less in condos, but they are not cheap in any other ay

 

[namratha_s]

Wow..words of wisdom..NOT. You cannot generalize. Condos are cheap? Come and live in Vancouver then.

i stay in condo in toronto. i pay $1700 n the amenities are sports room. v have snooker, table tennis, gym, pool, party room, party n so on. i feel its worth it. n i am moving to vancouver on jan 2017. i feel its good for 1700