Condominium vs apartment vs flat

Generally, a condominium is a private residence that is rented out to tenants, it can be a flat/apartment or an independent house. But in modern use 'condo' is referred to apartments and flats only. Plus, condominiums are owned and rented by individuals so renting a condo is more of a personal, one-on-one process.

1. Is a flat an apartment or a condo?
2. Which is better apartment or condo?
3. What is the difference between apartment and flat?
4. Is an apartment better than a flat?

Is a flat an apartment or a condo?

Condos could be ownership of individual units in a multi-structure with joint ownership of the commonly used property. The owner of the condo in the multi-structure unit owns shares in the total building and his or her designated space. ... A flat is a term mostly used in Britain and Europe to signify an apartment.

Which is better apartment or condo?

The one main difference between the two is ownership. Condos are usually bought on a loan and owned by the resident, whereas apartments are most often rented. ... If you are looking to stay in one place long term, a condo is likely the best option.

What is the difference between apartment and flat?

Flat: Flat is an individual residence with a set of rooms, typically, on one floor and within a larger building containing a number of such residences. Apartment: Apartment is a room or suite of rooms designed as a residence and generally located in a building occupied by more than one household.

Is an apartment better than a flat?

In general, “apartment” is the North American English usage, and “flat” is the British English usage. It seems to depend on where you are, and even then it's not quite clear. In the US, you will rarely hear the term “flat” but in the UK, you will often hear both apartment and flat used.