Apartment vs. Condo: What's the Difference?

The biggest difference between a condo and an apartment is ownership. Condos are typically individually owned and rented out privately, while apartments are usually owned by a property management company or investor that rents out the units.

There are several key differences between a condo and an apartment besides who owns the building, including how rent is paid, who handles maintenance and repairs, and the rules and regulations for each property type. This article compares condos and apartments, so you can choose the right rental for your lifestyle.

Condos vs. Apartments at a Glance

While condos and apartments may look similar, there are key differences between the two rental types you should be aware of before deciding which type is better for you. Here is a quick comparison of condos versus apartments.

What Is a Condo?

A condominium, or condo, is an individual unit that can be rented out to tenants. A condo is typically located in a residential building or community, but the unit itself is privately owned by an individual. The owner of the condo approves the rental process, so renting a condo may be more of a personal process than renting an apartment in a large residential community.

What Is an Apartment?

An apartment is a rental property that is owned by a property management company located in a residential building or community. In an apartment building, all the tenants report to the same property manager and follow the same community guidelines as outlined in their leases. A property management team runs the community day-to-day operations, including apartment tours, lease signings, rent questions, and any renter concerns.

What’s the Difference Between a Condo and an Apartment?

A condo and an apartment may look similar, but the main difference between the two rental types is how they’re owned and managed. An apartment building belongs to a single owner, like a property management company or investor, while a condo belongs to an individual who may decide to manage the rental themselves or hire a property manager.

Another key difference is who you interact with when you have a problem, concern, or question regarding the unit. If you live in an apartment, you’ll most likely be communicating with the on-site leasing team. In a condo, you’ll either contact the unit owner or the property manager they have hired to oversee your lease.

Some condos may also have a homeowner’s association (HOA), which is a community entity that sets the rules for the entire building community rather than a singular tenant. If you’re thinking of renting a condo, make sure you understand the technical aspects of ownership before jumping into a lease.

Are Condos Cheaper Than Apartments?

Condos are typically not cheaper than apartments, although the price of a condo can differ based on where you’re searching. If you’re looking for either of these rental types in the same city, they may be more similar in price. Amenities, size, location, and quality of the unit can affect the cost of either rental type.

According to CoStar Group’s October 2026 data, the median condo price fell by 1.4 percent to $345,000 while the national average rent sat at $1,667/month, which is about $20,000 annually. If you’re thinking about renting an apartment or a condo, you can calculate how much rent you can afford with our Rent Affordability Calculator.

How to pay rent for a condo

How you pay rent for an apartment and a condo can be different depending on your landlord. In a condo, you’ll most likely be a part of the condo community’s HOA. HOA fees are typically paid for by the owner of the condo and are factored into the monthly rent cost. In addition to HOA fees, your landlord may also lump in utilities, internet, or other added fees with monthly rent.

How you pay your rent can vary by owner and is usually a personal preference, whether that be a check or online payment. Always check your lease before paying rent to ensure you have the correct billing information and understand your payment options.  

How to pay rent for an apartment

In an apartment, you’ll most likely pay your monthly rent through your apartment community’s online resident portal, unless another method is outlined in your lease. You will also pay other utilities that are not included in your rent, like internet or electricity, to those service providers on a monthly basis.

How Do Condo and Apartment Amenities Differ?

Another difference between a condo and an apartment is the amenities that are included. While many apartment communities offer different amenities, the amenities included with renting a condo can differ based on HOA rules and lease terms. Below is a quick overview of the types of amenities you can expect to find in each rental type.

Condo amenities

Because the landlord of the condo may also be the owner, the look of the unit may be more personalized with upgrades. Some condos have luxury features such as granite countertops, hardwood flooring, and upgraded appliances, paired with personal touches, like paint colors or kitchen backsplashes.

In the larger building itself, you may find community amenities such as concierge services, garage parking, outdoor areas, a fitness center, and even an indoor or outdoor pool. Amenities can vary by community, so be sure to ask your landlord and review your lease to understand which amenities you have access to.

Apartment amenities

When it comes to an apartment, the units will look more standard. The appliances, color schemes, and hardware are usually the same throughout the community. The floor plan may be the only thing that changes based on the number of bedrooms in the unit.

Though many apartment communities offer luxury amenities, most apartments offer basic amenities, like a laundry room, an outdoor pool, and a gym, while in others, you can find a dog park, tennis courts, valet trash, and an indoor mailroom.

Who Handles Maintenance in a Condo vs. an Apartment?

Whether you rent a condo or an apartment, you will need to request maintenance at some point during your lease. The type of rental you choose depends on whether you, your landlord, or the maintenance team is responsible for repairing the issue.

Condo maintenance

In a condo, repair requests typically go through the owner or the property manager, who then repairs the problem or passes it along to their chosen maintenance provider. Although HOA fees cover community areas and the building itself, these fees do not cover the cost of repairs.

Keep in mind that if your owner or property manager lives farther away, response times can be slower. If the repair needed is an emergency, ask your landlord if you can utilize a third-party provider or review your lease for any maintenance clauses.

Apartment maintenance

Living in an apartment means you are usually not responsible for repairs. Typically, you will submit a maintenance request through an online portal, which will alert the property’s maintenance team. If you need an emergency repair, you can call your leasing office during open hours or contact the after-hours emergency line.

What Rules Do Condo and Apartment Renters Follow?

Most rental properties have leases that you, as the renter, sign. These leases usually include community rules and regulations covering quiet hours, guest limits, and other lease restrictions. Whether you’re renting an apartment or condo, each rental type will require you to sign a lease and agree to follow certain rules or risk eviction.

Condo rules

In a condo, the rules residents follow usually align with the HOA’s building rules in addition to the lease. Make sure you’re aware of both the HOA community rules and your lease terms, as they can have differing exceptions. For example, your HOA may allow pets in the unit, but your unit’s owner doesn’t allow pets. While HOA rules usually override landlord rules, you should still be aware of this important distinction and bring up any concerns with your landlord.

Apartment rules

Apartment communities require all tenants to follow the same community rules as they are outlined in the lease. These rules cover the inside and outside of the unit, including what permanent changes are allowed, pet policies, guest limits, and other shared-space rules. Compared with apartment communities, condo owners may offer more flexibility when it comes to certain lease terms; it just depends on the owner.

Before you sign a lease, make sure to review the document carefully and ask your landlord questions about anything that’s unclear.

Should You Rent a Condo or an Apartment?

Before you decide to rent a condo or an apartment, it’s important to understand the differences between the two rental types. Here is a quick breakdown to help you decide which unit is right for you.

Rent a condo if you want:

• A direct relationship with the landlord
• A unit with upgraded and modern features  
• Possibly more flexibility on decorating

Rent an apartment if you want:

• Standard lease terms for every tenant
• An on-site leasing office and property management team
• A maintenance team that handles repairs

Whichever rental type you choose, be sure to ask about fees, repairs, and lease rules before you sign.

Find a Condo or an Apartment on Apartments.com

Whether you decide a condo or an apartment is the right rental for you, you can search for both property types on Apartments.com. Navigate to the Apartments.com search page, enter the city you want to search in, select the “Home Type” filter, then choose “Condos” or “Apartments” to filter the search results by the property type you want to see. Finding a rental that fits your budget and lifestyle is easy with Apartments.com.

This article was originally published on February 14, 2019, by Megan Bullock and has been updated.