Condo Vs Apartment Plus another question (Columbus: apartments, leasing, condos)

[ChicagoMeO]

What is the difference between you renting a condo and renting an apartment? Is one better or worse or the same as the other?

Also, after reading apartment reviews, a lot of nice buildings seem to have crummy undependable elevators, i.e. a previous renter said he had to walk 41 flights of stairs in a downtown highrise when the elevators were out more than a day, and this seems to be a common thing. OK specifically do you know which apartments are notorious for bad elevators? What about these in particular -

3130 N Lake Shore Drive
Planned Property buildings (various addresses)
Reside Living (various addresses)
McClurg Court (333 E Ontario)
Columbus Plaza (200 E Wacker)

any more? Thanks, i really need your assistance in this. (and by the way, if i brought it up to a future leasing person in those buildings, would they have to disclose the truth that their elevators are chronically broken?)

[ChiGuy2.5]

An apartment - a unit that a management company owns and rents out to tenants for money
A condo - a unit that a landlord (you or I) own and rents out to tenants

So basically, you have a bunch of different people who own condo's, some live in them full time and others rent them out. Generally speaking it is said that condo buildings are better maintained because Condo owners take care of their buildings better as opposed to tenants. However, I haven't found this to always be true. Sometimes it really comes down to management of the buildings and the available funds.

As for the elevator question, you could try to ask how old the elevators are. This will generally give you a good idea of how reliable they are. Elevators generally need some major upgrades after being 20 years old, so if they are only 10 years old or something then you should be safe. I would also take note of how many elevators there are since you're probably safe if there are more than 2.

If you want a for sure, then check 3550 and 3600 N Lakeshore Drive. I've lived in both and the elevators are fine. I can't speak for the other addresses you listed.

[ChicagoMeO]

Originally Posted by ChiGuy2.5

An apartment - a unit that a management company owns and rents out to tenants for money



If you want a for sure, then check 3550 and 3600 N Lakeshore Drive. I've lived in both and the elevators are fine. I can't speak for the other addresses you listed.

thank you for the info and those 2 ideas for checking out

[ToriaT]

Don't think living in a condo will get you out of the elevator issue. My mom lived in a high rise condo and her elevators went out once in a while before they installed new ones.

A condo can be nicer than many apartments because in many cases owners lived there and updated them or kept them in good condition before renting them. The bad thing is that you really are at the mercy of the owner if they want to sell the condo. You might have to move before you are ready to. Sometimes the owner will want to sell or they will want to move back in or a relative will want to rent it.

[s0nginmyheart]

Also, most condos will likely have in-unit laundry while apts will typically have a laundry room in the basement or something.

Highrises with (broken) elevators may be a pain but if you're in a newer highrise they will likely have more than 1 elevator, esp if 1 is in repair.

[emathias]

Elevator breaking isn't that common. The best way to be sure it won't be a problem is to have more than one elevator, which most places do. An apartment building may fix it faster because it more directly Huerta's the owner of it doesn't work - poorly run condo buildings may fix it slower to save money.