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In a condominium, owners hold title to their units plus a percentage of the entire project in common with all other owners. With condos, the grounds and building structure, are owned jointly by the unit owners. Very similar to apartments, a condo is basically an apartment that is owned by the HOA. So rather than dealing with the company that owns the apartment complex, you are dealing directly with an individual owner of the condo unit when you rent a condo.
When you think of the difference between an apartment and a condo, it all revolves around ownership. Condo owners and individuals whereas apartments are owned by the leasing company or property management company. Both are shared properties, meaning the buildings contain multiple individual units. Condos are typically thought of as being in better shape because they are owned by an individual and that typically means a person pays more attention to the unit.
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