Apartments & Condos. Is there a difference?

Apartments & Condos. Is there a difference?


What’s up guys! Jonny the Realtor here.
Welcome to the video. Today we’re talking about apartments and condos what’s the difference between the two?
Let’s get into it. “Apartments” and “Condos”
Usually, you’ll catch people using those words interchangeably but there’s one major difference
between the two apartments can be rented
but condos can be rented AND purchased so that’s the main difference
but there are some other differences between the two. For example, in an apartment building
all of the units and the entire building is owned by the same entity or person. While you can’t go and individually
buy a unit in an apartment building, you can rent them out. So the way you go about that is walk into the apartment building,
go into the leasing office and ask the leasing agent for more
information on what they have available. However, what I actually recommend
is call in advance. Ask some questions, like
“what’s your availability?” “What’s the pricing like?”
“Do you have any lease specials?” “Is there a credit score
required for those lease specials?” and that way you’re ready
as soon as you get in there and everything will be
much smoother. Condos on the other hand are
a little bit different. since each unit is individually
owned, it’s up to those owners or landlords to rent out their
units, so not every single unit is gonna be up for rent
and you’re gonna have to find them. I recommend looking online first,
since you cant walk into a condo and say: “Hey, I want to lease
a unit.” They’re gonna say, they
don’t have a leasing office. So make sure you remember that. Here’s a little TIP for you guys! Condos tend to be negotiable.
Owners want to rent out their unit and a lot of times you can get
them to budge a little bit on the monthly rent and come down. Apartment buildings on the
other hand, whatever price they state.. that’s the price. These are set by algorithms, by
computers.. So, the people at the leasing office
don’t have the authority to lower those prices. H O W E V E R ask about lease specials,
because a lot of times you can get a parking space
included for the entire year or you can get lower move in
costs, so make sure that you ask about those lease specials. We work with both apartment
buildings and condos, I love them both..
what do you prefer? Do you prefer living in a condo
where each unit is individually owned, or do
you prefer living in an apartment building where the entire
building is owned by the same person or entity..
what’s your experience? I’d like for you to leave it
in the comments below. Stay tuned for the next video guys!
THANK YOU for watching and have an awesome day! awesome day

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