Envy Apartment

In truth, there is no real physical difference between what defines an apartment and what defines a condominium . They typically offer the same range of amenities, but the ownership of the property is where the real difference exists . Apartment units contained within a single complex are generally owned by the corporation or business that built the complex in the first place. Those individual units are then leased by an overarching management system that controls all the units. Condos, however, are owned much differently. Each unit in a condo complex is owned by an individual, and a homeowners association typically handles property management . That means most condos are rented from the owner of the condo itself, and not an overarching owning entity like with apartments. There are still some differences in the rental experience that one should expect, which are outlined below. Financial Costs In terms of month-to- month rental fees , condos and apartments are usually priced sim...

Property owners are costing the city of Madison millions of dollars by taking advantage of a loophole in a state law created in 2001. By registering the property as a limited-liability corporation, such as Steve Brown Apartments , LLC, rather than as a parcel of land, owners are allowed to sell property without filing the selling price with the city of Madison. The owner is then automatically exempt from real estate transfer fees and can easily avoid high property taxes because no sale price is recorded and the city does not know the property’s actual value. Shielding the actual value often results in an underestimation by the city of the property assessments and a lowering of the amount owners must pay in property tax. “It reduces taxes paid to Madison Area Technical College , the Madison School District and various entities on the property tax bill . Theoretically they’re getting away with not paying their fair share,” said City Council President Mike Verveer . Verveer said th...

If you are new to the property game and have recently decided that it’s time to move into a place of your own, then you will have likely asked yourself the question “Do I want to rent an apartment, or purchase a property of my own?” Well fortunately, this article aims to help you answer that question, by offering insights into why it might be a better idea to rent or purchase for your current situation, as well as other factors that you may not have considered yet. Renting Provides Flexibility while Purchasing Offers Stability In a recent article by EnlightenMe, they shared insight when they mentioned that one of the primary factors to consider when deciding whether to purchase a condo or rent an apartment, was the fact that renting offers flexibility , whereas buying offers stability . For example, if you are an entrepreneur or are still finding your footing within your career, you will need to decide whether you can realistically settle down. If you are expecting to be relocated with...

FORT WORTH (CBS11) – A Fort Worth woman said she paid thousands of dollars for electricity she never used. Tina Hudson was billed more than $8,000 over two years for electricity. Tina Hudson  (CBS11) Hudson said she knew her electric bills were too high, but the electric company and the apartment complex kept blaming each other, so she kept paying. “Four hundred and forty-eight dollars,” said Hudson, “$489… I think $501 might have been my highest bill.” Hudson said she expected higher power bills in the summer, but not all year long. Tina Hudson’s electricity bills (CBS11) She didn’t own a washer or dryer and her dishwasher was broken, so Hudson couldn’t understand why her electricity usage was so high. She said she complained to workers in the property office at the La Jolla Terrace Apartments at least once a month, but Hudson said the employees would just blame the power company. In 28 months, she paid $8,426 for electricity. “I would literally cry sometimes because I am here b...

stalled construction site at 132 W. 26th St., between Sixth and Seventh avenues." /> The stalled construction site at 132 W. 26th St., between Sixth and Seventh avenues. View Full Caption DNAinfo/Maya Rajamani CHELSEA — The new owner of a West 26th Street building plans  to tear it down to make way for a “high-end” apartment complex — just steps from a stalled construction site that has continued to be a magnet for rats and trash, neighbors said. Gary Vinbaytel purchased the five- story building at 128 W. 26th St. between Sixth and Seventh avenues, which formerly housed the restaurant Tre Dici , for around $10.1 million in July. He recently filed for permits to demolish the current building and construct a 14-story, mixed-use building in its place, city Department of Buildings records show . The complex will contain 10 to 12 apartments and have a commercial space on the ground floor, Vinbaytel told DNAinfo New York. “It’s going to be really nice — it’s going to [have]...

When looking for a new place to live, you might see both condos and apartments and wonder “What’s the difference between apartment and condo living?” You’re thinking about all the same things no matter which place you’re previewing: price, square footage, amenities, types of flooring, pet rules . . . as long as you have what you need, why does it matter what type of unit you rent?  Well, it does. Knowing the difference between a condo and an apartment is important: it affects how your community, and home operate from day-to-day. Ownership: Apartment vs Condo Apartments Apartment complexes usually have one owner. This means that all the leases and rules are uniform as well. This can be a good thing when it comes to neighborly disputes, since you all have to apply by the same rules. The property manager can act on, and fix the problem, they have the authority to do so. Condos Each condo typically has one owner. The complex does not own all the units. This can be really nice, because it c...

Share This Story Property Deals Prompt Questions About AZ Firm Rodney Ernhart of Bigfork, Montana has had enough. “We’re done. We just want to wash our hands of the whole situation and just walk away. Take our licks. Learn from our mistakes and go on.” As mistakes go, Ernhart’s was an expensive one, costing him roughly $60,000. “It’s my own stupid fault.” In the spring of 2016 at a real estate conference in Las Vegas, Ernhart and his wife were approached about an opportunity in Niagara Falls, New York. The pitch came from a representative of Return On Rentals. The Arizona-based company says on its website that it “( helps) its clients create long -term wealth, using turnkey, residential rental property as the vehicle. We provide rehabbed, rented, professionally managed, cash flowing real estate for investors. ” Available for sale was a four- unit apartment building in Niagara Falls. Price tag was $100,250.  Ernhart was being asked to purchase, on the spot, without ever seeing the p...

CLEVELAND, Ohio - One of downtown Cleveland 's worst eyesores finally changed hands Monday , after years of court fights and false redevelopment starts . Alto Partners bought the long- vacant John Hartness Brown complex on Euclid Avenue for $9.1 million, in a deal that sprang from a messy foreclosure fight . The developer, a relative newcomer to the Cleveland real estate market , expects to fill the buildings with apartments, a hotel, retail and parking. Construction could start during the first few months of 2018. Stretching from 1001-1101 Euclid Ave., the John Hartness Brown complex spans three addresses and five facades on north side of the street. Thanks to troubled ownership, financial hurdles and lingering fallout from the Great Recession, the property has languished despite the surge in downtown living and the trend of turning historic buildings into housing and hotels. Alto will be the third developer in a decade to attempt a revival of the block. A rendering shows what ...

A saga spanning the last year and a half over whether Lafayette's Circle Motel — a collection of ramshackle buildings with an even grainier past — should remain preserved as a part of the city's history was decided earlier this week, and it looks like the venerable motel will be allowed to redevelop. The news came to the delight of the owner, Mike Macinko, whose disdain for the dilapidated buildings has led to the spectacle of an owner actively, and publicly, campaigning to demolish his own property. The City Council tabled the discussion in December after being unable to find whether or not the structures on the property were of " overwhelming historical significance to the community," as required under the city's Historical Preservation Board . Plans for how the property could be redeveloped are still up in the air, Macinko says. Any development plans will have to sift through the city's planning process. Plans for high- density urban apartments were disc...

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