What is the difference between an apartment and a condo in America?

Answer 1

In a multiple-unit (commercial or residential or mixed use) that has not been condoized, there will be one owner for the entire building. The owner can be an individual, a partnership, a corporation, etc.

If the building has been approved by the local government to be designated as condominiums: Then each unit can be sold off individually without affecting the ownership of any other unit in the building. Usually there is a condo association to govern the shared costs of maintenance and upkeep and to impose control over the activities affecting the building. There will be many owners involved in the particular building: some units will be owner-occupied and other units will be rented-out by owners preferring to use their unit as income-property.

Many apartment buildings (including those with commercial store fronts or office spaces) and hotels and motels have been converted to condos here in the USA. Some hotel and apartment building units in the tourists areas are sold as time-shares. That is happening in Europe too.

So you see, an apartment can be a condo. Condo has something to do with the laws governing ownership. If you say you live in a condo, that generally implies a classier, updated better maintained unit (not necessarily so though as I experienced in a recent visit to Hawaii).

Answer 2

AN APARTMENT IS JUST TO RENT, A CONDO IS LIKE AN APARTMENT BECAUSE THERE IS NO LAND MAINTANCE BUT WITH A CONDO IT CAN EVENTUALLY BE YOURS AND YOU HAVE EQUITY.

Answer 3

about a thousand a month