Does it matter who owns your unit?
In theory, there may not be any difference between a condo and an apartment. Both will have kitchens, bedrooms, and the same level of finishing’s. However, for those looking into condo rentals Toronto has available, the difference between a condominium and a purpose-built rental building can become clear in subtle ways. A condo is usually owned individually, where the unit owners choose to lease their suites. This means that your landlord will be the owner of your unit, but the building will be run by a condo corporation, which has its set of rules. Policies for leases, pets, and repairs will differ from suite to suite in the same tower, as each unit has its own owner. A purpose-built rental building, on the other hand, will have a landlord who owns the whole building and runs it as a rental property. This means all residents will have the same policies, processes, and services. Kingsway Village Square, located in Etobicoke, for instance, has facilities that most people c...