Condos or commonly called condos are from English, namely condominiums. This word itself is a combination of Latin, namely con which means together or joined, and dominium which is ownership or control. From this meaning, it can be taken to mean that condominiums, like the ones from Wilshire Residence, are ownership of buildings together.
The apartment is a vertical residence that is rented by the owner to another person. The occupant has the right to stay but does not have the right to rent or even sell it to others without the knowledge of the owner.
Meanwhile, condominiums are apartments whose functions are to be sold and owned by each occupant. The owner has the right to inhabit, rent, and sell it to others.
What are the different forms of building a condo with an apartment?
Although both are vertical occupancy, the shape of the buildings both has differences. The shape of a condo building is usually equipped with only two or three towers, like the Wilshire Residences showflat. While apartment buildings are in parallel with other towers.
The facilities are also different. Usually, condos provide luxurious facilities, such as a large swimming pool, fitness center or gym, spa, sauna, and others. While the apartment has limited facilities.
What is the Condominium management system?
If you have an apartment, you need to promote your apartment for tenants. Not with a condo. It’s because the function is indeed for sale, the management of this residence is carried out more professionally by the building management, just like the good condo from the Wilshire Residence.
What is the cost and cost of maintenance of the Condominium?
It’s almost the same as private home maintenance financing, all forms of condo financing have been carried out and taken into account at the outset. Owners no longer pay monthly fees such as parking fees or other jointly owned facilities. So, do not be surprised if this residence does have a much more expensive sale or purchase price.