Difference between condo buildings and apartment buildings

When you're considering extended stay facilites and aparthotels in Miami Beach, it is important to understand all of the terminology used to describe your options. By knowing what various terms mean, you will be able to recognize what accommodations, such as aparthotels in Miami Beach, are the most ideal for you.

One of the most confusing sets of terms for tourists to grasp are apartments and condominiums. Many people think the words are synonyms and can be used in place of one another, but this is not the case. Apartments and condominiums represent completely different types of extended stay facilities.

Many differences exist between apartments and condominiums. Here are a few of the major differences:

• Apartments are in buildings with multiple units. While condominiums may also be in multi-level buildings or smaller structures, some condominiums are located in developments and look more like individual houses.
• With condominiums, each unit is owned by a different person. In apartments, the entire building is owned by one person or a business who rents space to tenants.
• Condominiums are governed by condo associations made up of representatives from the community. This ruling body establishes regulations that people who wish to live or visit there must follow. In an apartment, the owner of the building establishes all of the rules for tenants.
• Condo associations determine whether or not owners can use their units for short-term rentals. Approximately 95 percent of the condos in Miami do not allow these types of rentals. Whether or not to offer weekly apartment rentals in Miami is mostly at the discretion of the owner, though zoning laws in some parts of Miami may prohibit the practice.
• Most condos that allow short-term rentals require guests to sign leases for at least one month. The minimum length of a stay varies for apartments. Some buildings offer weekly apartment rentals in Miami, while others have a one-moth minimum for short-term stays.