Condo VS Apartment Rentals | DIFFERENCES EXPLAINED!

Подписаться 230 тыс.

Просмотров 68 тыс.

50% 1

I noticed there is a lot of confusion about renting an apartment vs condo and most people don't know what the difference is. In this video, I will clarify so you as the renter, will be able to tell the difference hopefully decide which is right for you.
If you enjoy this video then check out my other videos I have listed below that you may like as well, and let me know in the comments, if you are interested in seeing a pros and cons of renting an apartment vs condo in the future 👍
WHAT TO WATCH NEXT
LIVING BEACHSIDE IN FLORIDA ON A BUDGET! • Living in Florida BEAC...
BUYING VS RENTING WHEN MOVING TO FLORIDA • RENTING V.S. BUYING Wh...
WHEN IS THE BEST TIME OF YEAR TO MOVE TO FLORIDA? • When is the Best Time ...
Need a Realtor? homeandmoney.com/michael/
======
Like My Sunglasses? Get a Pair ebay.us/PhTVOG
======
WANT TO DO A ONE ON ONE CALL WITH ME? BOOK ONE HERE: michaelbordenaro.com/services/
MY FILMING AND EDITING EQUIPMENT
michaelbordenaro.com/my-youtu...
SERVICES I PERSONALLY USE AND RECOMMEND
ºHome Chef bit.ly/HOMECHEFMB
ºHello Fresh bit.ly/HELLOFRESHMB
ºNaked Wine bit.ly/mbnaked
ºRakuten bit.ly/MBRAKUTEN
ºTube Buddy bit.ly/mbbuddy
Make sure you give this video a 👍 and SUBSCRIBE to the channel if you haven't already! ➡️ru-vid.com...
---------------------------------------------------------------------------------------------------------------------------
🔴Ways You Can Support My Channel💪:
💵Thank Me on PayPal or Patreon With Any Amount You Like:
www.paypal.com/paypalme/my/pr...
/ michaelbordenaro
😎Pickup some cool sunglasses for your next trip to FL: shrsl.com/2cvd2
🔴I use Tube Buddy to grow this RU-vid Channel. If you are trying to do the same, I highly recommend you check them out. They have a ton of useful tools to help dial in your RU-vid SEO and it is super cheap if you are new and have less than 1000 subscribers: www.tubebuddy.com/mbordenaro
🖥Shopping Online Now is more prevalent than ever before. Get cash back on all the items you ALREADY buy. Get $10 just for signing up for Rakuten HERE: www.rakuten.com/r/NIRVPL2?eei...
💸Buy Something From Amazon With My Link: amzn.to/2ziZqst
📖My Favorite Books to Get Ahead in Life:
The Power of Now: amzn.to/2N0RArV
Rich Dad Poor Dad: amzn.to/2Nq9bsj
The Millionaire Next Door: amzn.to/31Xp5je
You Are a Badass: amzn.to/2JAfHLP
The Subtle Art of Not Giving a F*ck: amzn.to/36iUj7N
All the links in this section are affiliate links and I may receive a commission if you use them to make a purchase. All of the commissions earned through these links contribute to making the absolute best videos I can for you and is sincerely appreciated 😊

Опубликовано:

1 ноя 2020

Ссылка:

Скачать:

Готовим ссылку...

Добавить в:

Мой плейлист

Посмотреть позже

Комментарии : 150

@MichaelBordenaro 3 года назад

If you found this video helpful then check out my BUYING VS RENTING video here! ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-5YfFWmlKNp0.html

@TheRalphie2020 3 года назад

Great videos Michael!!

@MichaelBordenaro 3 года назад

@@TheRalphie2020 Thank you very much!!

@chesteringosan7939 3 года назад

so if i buy a unit in a residence building i can put it for rent and make money when im out of the country? and sell it after 3yrs or so for possibly more or less than the amount i bought it for? but i have to pay for the tax and electricity and other utilities for the duration that i own the unit?

@MichaelBordenaro 3 года назад

@@chesteringosan7939 Yes that is all correct

@karimsanchez8058 3 года назад

I rented my condo , the owner wanted to sell it so I had to leave but I told him give me an offer , the offer was attractive and I bought the place . I am still there I like it

@MichaelBordenaro 3 года назад

That is a pretty cool story! Doesn't happen too often, but sounds like it worked out pretty well for you

@sosi7108 2 года назад

@adri9795 Год назад

I wish we had that option! The condo we rent is beautiful

@ryans413 2 года назад

If you can find a small building like say 10 or less apartments it’s not bad cause most the time there’s a property manager that lives their and you get to know them since it’s small building and any issues can be solved pretty easily

@MichaelBordenaro 2 года назад

Very true!

@Musiqman76 3 года назад

Yes please to a pros and cons list for apt vs condo!

@iLuvMarlenyNunez 3 года назад

Yes👆🏻👌🏽

@harrypottah4500 3 года назад

pros for condo is you can do what ever you want with it.

@ndubstar 3 года назад

My biggest sticking point is a one year lease for many apartment s. Especially with moving to a new place and not sure where the job might be. A month to month would be best to start out.

@MichaelBordenaro 3 года назад

Yes if you're moving somewhere new and not sure if you will be staying or for how long then a more temporary solution is better. There are condos that can be rented for just a few months at a time or even month to month, but it will cost you more

@youngloenoe 3 года назад

Now that's really good content! It's great to see the progress of your channel man.

@MichaelBordenaro 3 года назад

Thank you very much Leo! Really nice of you to say that 😀

@theoneandonlypinkypinky8245 3 года назад

Very informative hank you! We live in a "luxury" co op and its a nightmare! Never again! Because of the virus we are thinking of renting when we leave NY and dont know much about renting thanks for clarifying!

@MichaelBordenaro 3 года назад

Glad it was helpful! Renting is more complicated than buying in some ways lol

@stoicpoet5139 3 года назад

Looking forward to your pros and cons video 😁

@1975Godmade 3 года назад

👏🏽👏🏽YAY!!! You posted this. Thank u

@MichaelBordenaro 3 года назад

Yes!! Glad you found it helpful 😊

@xblade1x1x 3 года назад

Thank you so much . your video's have vary FRANK and to the point. i am about a month from moving from Canada to Florida and your video's have been priceless . video's on moving to Florida ? the best on RU-vid.

@MichaelBordenaro 3 года назад

Thanks a lot Paul! I like to get to the point as much as I can, glad you appreciate that 😊 The fact that my videos have helped you so much, let me know I am doing things right👌

@grudge5150 3 года назад

Hi Michael, in a future video, could you also talk about renting a house and how it compares to renting an apartment or condo? Btw thank you for making such informational videos. I always learn something new and useful 😀

@MichaelBordenaro 3 года назад

Yes I like that idea, I probably will do that! You are so welcome, thank you very much for always watching and the fact you are learning something new lets me know I am doing things right 😊

@Lil-Be 3 года назад

Thank you! I had no idea about the difference.

@MichaelBordenaro 3 года назад

You are so welcome!

@oscarp2629 3 года назад

I agree completely!

@lextacy2008 3 года назад

I feel TOWNHOMES should have been included too. The difference being that townhomes allow a front-back dwelling minus the shared hallway.

@MichaelBordenaro 3 года назад

Good point, I'll have to include townhomes in a future variation of this topic 👍

@elcavalletti7369 Год назад

Thank you for the video that you've made explaining the difference between a condominium and apartment is greatly appreciated!!

@praveen4024 10 месяцев назад

Thanks, very helpful!

@AlexSkies777 Год назад

Thank you Michael.

@ERNIE555 3 года назад

Nice explanation...explains the homeless crisis in the US!

@fofofofo3076 3 года назад

Drug addict

@SidVz 3 года назад

@@fofofofo3076 that’s a very bold assumption

@SR-vk3fv 3 года назад

Really helpful video, you’ve convinced me multiple times over that Miami Beach is where I should go

@MichaelBordenaro 3 года назад

Awesome! It definitely is one of the best in south Florida, no doubt 👌

@ladydee56 3 года назад

I found this video as I am getting ready to retire in November. The retirement seminar teaches moving to another state rent first b4 buying. I own my home here in Wisconsin and looking to retire in another state. No way will I be able to pay rent and a mortgage here. This was helpful thanks

@MichaelBordenaro 3 года назад

I agree with that advice Darlene, and I say that in a lot of my videos, better to rent for a bit first to make sure you like the area and are committed.

@MrPAULONEAL 9 месяцев назад

If you rent a condo there would be a better chance of buying in the future.

@jamesstevens2591 3 года назад

Hey Michael: Good video. One question: are there any laws to protect the tenant who rents a condo, and the owner happens to be in foreclosure on the unit, or after the tenant has lived in the unit for a while and the owner is being foreclosed on, and the bank or mortgage company gives an eviction notice to the owner’s tenant tenant (whose been paying his rent faithfully all the while). I’ve heard of this happening frequently a while back. Could be a resurgence of the problem given the state of the economy. Thanks.

@MichaelBordenaro 3 года назад

Hi James, good question. Back when we had a ton of foreclosures here in FL, they changed the law so that when a condo owner gets foreclosed, the bank needs to give the tenant a 90 day notice to leave, they can just throw you on the street. But once the 90 days is up, then yes you do have to leave, but at least its ample time to find a new place.

@OiVinn-eq1ml Год назад

I don’t want a house due to maintenance & life style. I considered a condo but there’s HOA, taxes, maintenance, etc. Plus I don’t want to be stuck in one place for many years. Depends if I like it. But I want to build equity & don’t want to throw away money by just renting. Then there’s townhomes, which I’ll look into later. Decisions decisions

@zaidmujahid2020 3 года назад

hey how're you ?? well i'm a student and i want to study in florida college or school but i don't know which city is best to live so i ask you which city is best miami or orlando or jacksonville and i want a part time job so please tell me which city is best ??

@TikiShootah 2 года назад

1 bed room apartment is for rent at $700 1 bedroom condo cost $100'000

@bendy302 Год назад

Is a condo safe because I'm afraid do they focus maintenance so the building safe and no damage because I don't know that

@se2664 3 года назад

I want a pros and cons list

@oneshiftmexico2188 2 года назад

Great info

@MichaelBordenaro 2 года назад

Thank you!

@democrata456 10 месяцев назад

Did u make pros and cons video?

@mcarlkv53 3 года назад

condo buying is tough. I would love to buy a condo in orlando, kissimmee, or melbourne...but with the hoa or condo association fee and the taxes, and the homeowner insurance, and sometimes a "special assessment fee"....its just tough...any condos in orlando without any fees or homeowner insurance or taxes required?

@MichaelBordenaro 3 года назад

Unfortunately no, all condos have fees and you could avoid homeowners insurance if you buy the place in cash, and taxes don't end til we're dead 😉

@dashriprock5720 Год назад

It's funny how so many people confuse these terms with a style of property. Then they throw town house in the mix, which is a design aspect. Also, in most states an off sight property manager is required by law to hold a real estate brokers license. An on sight manager at an apartment complex is not required to be a licensed broker.

@Mel.U Месяц назад

You just gave me more learning content and logistics and I did wonder how townhouses factored in

@RG-hf4et 2 года назад

I would NOT want a landlord knocking on my door every month. That is intrusive, imho.

@MichaelBordenaro 2 года назад

For sure

@back2the80s 2 года назад

My landlord showed up unannounced to collect rent. Refused to allow check to be mailed

@RG-hf4et 2 года назад

@@back2the80s Mail it to him early so he won't knock on your door.

@back2the80s 2 года назад

@@RG-hf4et he said not to mail it. He sold property recently so he is gone. New owners require rent mailed. A corporation that buy up properties, renovate and raise rent too high. No dishwasher, washer dryer and old outdated wires and not enough hot water. Must pay all utilities. No heat included anymore. All that for nearly $1600. Scam

@JRodzTv 3 года назад

👍

@aignefrench9543 3 года назад

Have you ever worked with someone who is self employed/entrepreneur? Can you make a video on that and the process for them with renting/buying?

@MichaelBordenaro 3 года назад

Yes I have and the process is basically the same, you just need to able to prove income and have good credit

@aignefrench9543 3 года назад

@@MichaelBordenaro thank you so much! what if you just started your business. less than a year. still the same idea?

@MichaelBordenaro 3 года назад

@@aignefrench9543 Yes still the same for renting, but not if you are buying a place. Then you'll need a little more time to prove income, usually at least 1 year, sometimes 2.

@sunlouie9088 Год назад

I wonder if I buy an unit in an apartment will it becomes a condo?

@komikpouchon3343 2 года назад

I’m planning on moving to florida Fort Lauderdale in the next 3 months but I’m looking to rent first !! What ideas will you give me ?

@MichaelBordenaro 2 года назад

That sounds awesome! What kind of advice are you looking for?

@mainchannel7288 3 года назад

🔥🔥🔥

@MichaelBordenaro 3 года назад

💪✌️😎

@yingqi4126 2 года назад

The first house in the video, the one with a lot of tropical vegetation in the middle yard is freaking beautiful!!! Where does the house located plz😍

@MichaelBordenaro 2 года назад

7850 Harding Ave in Miami Beach

@yingqi4126 2 года назад

@@MichaelBordenaro 10Q so much wish you all good today！

@cic-jakevanddalgeemyers.2739 2 месяца назад

Wow .

@a.u.2035 3 года назад

Michael, if someone pays cash for the condo which eliminates banks, financing, etc. would their credit score not be a factor in the equation?

@MichaelBordenaro 3 года назад

For the most part, no credit will not be a factor unless the building you're buying in, has credit requirements for resident approval. Most don't but some do. I would check that ahead of time if that is the only potential hiccup

@MichaelBordenaro 3 года назад

@Hatchet Jack What questions in particular do you have about buying with cash? Let me know and I may possibly be able to make a video out of it once I know what type of info you're after.

@MichaelBordenaro 3 года назад

@Hatchet Jack You're welcome! I will see if I can turn this into a video idea, it is interesting. You will save some money at closing if you pay cash, and then of course the biggest savings of all is monthly since you will not have a mortgage payment

@plushyclan2623 2 года назад

On my sons act and yep so true a 2BR 1BTH apartment thats 700 SQ FT for $850.00 a month..said "You HAVE to make $85,000.00 per year. We rather have no stay at home moms we like each adult to make 85, grand per year anyone whos 18 and up. We also ban siblings from sharing a room.even if twins. "

@josephbenadam 3 года назад

Do you live in a condo or apartment ?

@MichaelBordenaro 3 года назад

Condo

@RG-hf4et 2 года назад

What about if you are retired and don't have a monthly income from a job but may have a pension, ss, savings, good credit, etc.......?

@MichaelBordenaro 2 года назад

As long as you can prove income, that is the most important thing. Many retirees live in FL and are in a similar situation.

@kodek2000 2 года назад

Most landlords are flexible on the x3 principle because otherwise they wouldn't find renters.

@MichaelBordenaro 2 года назад

It does depend, some are some arent

@DavidPerez-oj2dv 2 месяца назад

THIER BOTH WORST MY HOUSE IS PAID OFF LOW TAXES, HOA IS A RIP OFF, RENT YOU MAKE THE LANDLORD RICH

@kodalipke8002 3 года назад

I'm honestly still confused on Condos vs Apartments. You did cover a lot in this video which was great! I just dont know what would be better when moving to Tampa if I should do an apartment or a condo? Especially with renting I'm not wanting to buy. Also what about HOA fees? Are the HOA fees included in the price of the rent of the condo or would the monthly rent go up? I do apologize I'm simply confused.

@MichaelBordenaro 3 года назад

Well I do point out all the main differences, but don't worry about HOA fees if you rent a condo, the landlord pays that and already has that factored into the rental price. It will not be a separate cost for you.

@ryans413 2 года назад

Condos are houses apartments are not. So a condo is a small house with in a big complex you can own a condo or rent a condo. If you own one you’ll have a mortgage or you can rent to own one either way a condo you are paying someone or yourself mortgage. Apartments usually big buildings are own by companies and you just rent to be able to stay their a town home is a small building with probably 6 or 10 unit’s small that can be rented most the time someone owns it and the renters are paying the mortgage

@marcc2473 Год назад

Basically in a condo you are renting from a private unit owner. It’s a contract between you and a private owner that’s who you need to deal with. So don’t bug the condo manager about your problems because tenants try to make their problems the problem of the other say 100 unit owners in the building problem. Basically condo tenants can be a nuisance to the association they are takers but no skin in the game.

@harrypottah4500 3 года назад

so how i am taking it in is an apartment is rented and a condo is like an apartment but you buy it you dont rent it and its not owned by a company renting them out to people.

@MichaelBordenaro 3 года назад

All correct, except, you can rent AND buy a condo. With apartments, you only rent

@ryans413 2 года назад

Condos are like houses just in one big building you can own them or rent them if you are renting them that means someone else owns the condo you are paying that persons mortgage off. Apartments you just rent it could be from a accompany usually the bigger buildings or if a townhome that say only has 6 units could be paying off someone’s mortgages too.

@Faraz70 3 года назад

Is 3x income requirement net or gross income?

@MichaelBordenaro 3 года назад

Usually its gross

@solidsnake4022 3 года назад

In general, a condo has more amenities.

@MichaelBordenaro 3 года назад

Yes that is usually true

@yongfulu8984 Год назад

The whole building of an apartment has only one owner? so that means apartment can't sell by unit? Doesn't sounds right.

@MichaelBordenaro Год назад

Thats correct

@AntaneiaElliott-ni6do Год назад

I paid $135 for rent for my unit

@ssubzerofn Год назад

My name is so rare that nobody has ever Spelt it right before before

@elcavalletti7369 Год назад

The question I would like to ask you is, can you buy an apartment from the landlord who owns a three-story house my building but is a three story privately owned house that he owns?? If you're able to answer my question it is greatly appreciated thank you very much

@user-ql2ml3io3m 11 дней назад

We wanna condo

@fofofofo3076 3 года назад

Do you rent for immegrantas with no papers ??? Like me if i come to miami and work without papers and i need a place to stay but i pay for my apartment I'm honest about it !! So you can do it or how does it work with immigrants ?? Someone explaine

@Natalia-oj6mm 3 года назад

I’m not expert but in south Florida u can find what’s call an “efficiency” is basically a garage converted into small studio apartment that people rent for extra income. I don’t think those ask u for papers. Just gotta build a relationship with the landlord. My friend did this to his house and he rents it for $800 cash. So I know it’s out there.

@MichaelBordenaro 3 года назад

Yes I second Natalia's reply, that is a good strategy. Trying to move into an apt complex or condo will be much tougher, as you'll need paperwork proving you're legal

@fofofofo3076 3 года назад

@@Natalia-oj6mm great thank you natalia 😊 do you have Instagram!!

@AntaneiaElliott-ni6do Год назад

Why i have to travel to Eastover if T.Walker help me find a place with washer and dryer and someone was already living upstairs i dont see nobody esle going to wash their clothes they have one in the unit.

@AntaneiaElliott-ni6do Год назад

I didn't have to move again but I have to look for a different unit because no one suppose to live downstairs

@AntaneiaElliott-ni6do Год назад

T.Walker was a good case manager but she seen what was going on she didn't like it so she quit being my case manager because she felt sorry for me

@csl4159 29 дней назад

The term “condo” is just cope for people unwilling to admit they bought an apartment.

@schambach71739 3 года назад

Micheal how do I get I. Contact with you? I am interested in a single family home in Miami Beach

@MichaelBordenaro 3 года назад

If you go to my about section you can email me there, best way to get in touch 👌

@schambach71739 3 года назад

@@MichaelBordenaro ok thsnks

@Catman1987 2 года назад

i prefer townhomes .

@MichaelBordenaro 2 года назад

That is a good happy medium

@LACraig621 2 года назад

Either way as long as you're renting you're wasting your 🤑....

@someonespecial3149 2 месяца назад

And the people demanding 3 times the rent dnt even make that it’s crazy

@zaidmujahid2020 3 года назад

i like your youtube videos and i subscribe your channel so plz tell me ?? which city is best i'm a student. and which city have a part time job opportunity?? please tell me.

@MichaelBordenaro 3 года назад

Your student check out Gainesville it's a popular college town and it's affordable and I'm sure you could find a part-time job there

@zaidmujahid2020 3 года назад

@@MichaelBordenaro. hello jacksonville and Gainsville is same or different cities and Jacksonville is best or Gainesville?

@MichaelBordenaro 3 года назад

@@zaidmujahid2020 They are different cities and if you want to go to college then gainsville is probably better, since it is known for their university

@zaidmujahid2020 3 года назад

@@MichaelBordenaro thanks for give me information but ganisville have a job opportunity

@MichaelBordenaro 3 года назад

@@zaidmujahid2020 You're welcome, you'll have to check it out and see if they have a job that you want!

@alphasquad7935 3 года назад

I looking for a nice place Miami Beach, I like your videos a lot! How you can help me to relocate : info phone?

@MichaelBordenaro 3 года назад

Hi! Go to my about section, and email me there exactly what it is you're looking for, and we'll go from there 👌

@CaptainProx 5 месяцев назад

While owning a house has its own separate set of additional expenses, renting is basically just throwing away money. And it doesn’t help renting costs itself are about 90% of what you would be paying just to own