Apartments are owned by a separate legal entity known as a "landlord", and the landlord leases their property to people who pay them a monthly fee to inhabit their property. These people are called "tenents". With a condo you purchase it and own it yourself. However, you still must pay a monthly grounds fee to live there, and you still answer to a "groundskeeper", who has almost as much authority over you as a landlord does. You might be the legal owner, but you still adhere to most of the same rules as a tenant. The only difference is that when and if you decide to move you sell it and make have a nice chunk of change to move out on.
IMO, condominiums are one of the biggest scams in all of real estate. You are much better off renting an apartment than you are "owning" a condominium.
Condos:-
Condos are owned and not rented as is the case with apartment. it is a large property complex where individual housing units are owned by individual where as common property such as garden, swimming pool, hall etc share by owner.
Apartment:-
An apartment is a housing unit contained in a housing complex made up of many more such units. Which are more popular among small families of four or five members. In case of rent apartment you are bound to obey the owner's rule.
Apartments are owned & managed by an entity and rented out. Condos are owned separately by individuals
Condominium is a form of ownership.
You usually own a condo, but you rent an apartment.
