Here Is How to Choose Between a Condo, Apartment, and a House as a Renter

We understand that finding a place to rent can be a trying experience. Like anyone, you want a home that fits your budget, is close to work or school, is comfortable to live in, has the amenities you need, and more.

At rhenti, having had decades of experience as renters, we created a platform where good renters can find good listings in a powerful and easy-to-use system. You can make the renting experience easier by browsing detailed listings that feature high quality images. Once you find a home that you’re interested in, you can request a viewing, and apply directly through the platform.

Our platform features condominiums, apartments, and detached houses. Each type of rental property has its own set of advantages and you can select the right one based on your needs.

Condominiums

A condominium is either an individual building or a building complex in which the units are individually owned by homeowners. These homeowners can enter the rental market by renting out their homes. Such homeowners often choose to be empowered by expert condominium rental management due to their inexperience in the rental property business. 

Condo owners usually pay a monthly fee for basic upkeep, which may include window washing, maintenance, snow removal, small repairs, and more. This fee may also cover the cost of certain amenities such as air conditioning.

Due to the demand for affordable housing in big bustling cities, condos are being developed faster than detached houses and apartments. Such condos feature modern architecture and usually have more amenities than other rental options.

You can check our great selection of Toronto condominium rentals to get an idea of the sort of extras they feature. Amenities in a condo can include a fridge, oven, washer, dryer, dishwasher, microwave, air conditioning, heating, concierge service, and security.

Because condos are owned by homeowners who may have lived in them themselves, they usually carry a personal touch. This may mean extra amenities like wi-fi, smart home technology, furniture, as well as stylish finishes on floors, staircases, and modern fixtures in the kitchen and bathroom.

Another advantage of renting a condo is that they offer ways to socialize. Many feature communal perks like a gym, swimming pool, party room, and theatre room, which are available to residents at no extra cost.

Many condos are being built in the heart of big cities, which makes them eco-friendlier. Residents of condos have smaller ecological footprints as they can find offices, schools, universities, parks, restaurants, theatres, sporting arenas and more at a walking distance.

The monthly cost of owning a vehicle can include financing, insurance, parking fees, fuel, maintenance, and more. You can save these costs when renting a condo because many are located near public transport. This will also reduce your carbon footprint.

Not only do condos look good and feature many amenities, but they are cheaper to maintain. Their modern design and smaller-scale can mean lower utility bills. And unlike a house, they have fewer seasonal upkeep costs. For example, you are unlikely to have a driveway or yard to maintain when living in a condo.

A variation of condos are condo townhouses, which are either built stacked like a small apartment or in a row with neighboring homes directly on either side. Condo townhouses can offer some extra benefits like increased space and more privacy without the added expense associated with detached homes. Regular maintenance costs are also covered. However, they may lack certain amenities such as a concierge, pool, or gym.

When choosing between a condo, apartment, or house, many renters find condos to be the most balanced option.

Apartments

The biggest difference between an apartment and a condo is in the ownership structure. While every home in a condominium building can be owned by a different owner, an entire apartment building is usually owned by a single individual or a business.

Here are some advantages to living in an apartment:

  • Apartments are usually owned by a professional business that’s well versed in local laws and responsibilities. These career rental property owners will usually perform basic repairs on time. Apartment buildings often have live-in superintendents who can be reached quickly and do minor repairs in an emergency.
  • Apartments are usually a little less expensive to rent than condos.
  • Apartment rules are usually not strictly enforced. On the other hand, condos usually have tighter rules. For example, many of them have a no-pet policy. Others may outlaw certain colors for curtains or what a resident may keep on their balcony.    

Although there are many advantages of living in an apartment, apartment buildings can be older than condominiums. They may also lack amenities like a pool, gym, recreation room, and security.

Houses

The biggest advantage of renting a detached house is more space. Renters with growing families will find all the extra bathrooms and bedrooms they need in a house. They will have a driveway to park their cars, a backyard for growing vegetation, playing sports, and having a barbeque in the summer, and many other perks of suburban living.

Living in a house also gives you more privacy. You can watch films, play music, and invite guests without disturbing your neighbors. Likewise, you usually don’t have to worry about the lifestyle of the people living on either side of your home.

However, renting a house is usually more expensive than renting a condo or an apartment. Aside from the higher rental price itself, there are higher maintenance, repair, insurance, and utility costs. You may also have greater transportation expenses if your house is farther from the city core.

Houses usually don’t have as many amenities as condos. While they may have basic amenities such as a fridge, microwave, washer, dryer, and dishwasher, they usually don’t have a gym or a swimming pool. They also have fewer security options. For example, your premises won’t be under the watchful eyes of a trained concierge.

These are the different characteristics of a condo, apartment, and a house. There are many advantages and disadvantages to living in each as a renter. Picking the right home depends on your budget, needs, and lifestyle. Thankfully, you can find the type of home you’re looking for by browsing our listings on rhenti. Whether you want a condo, apartment, or house, we have what you need.

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