junctionist
Senior Member
In Toronto, the word "apartment" seems synonymous with renting a place to live. In terms of multi-unit residential buildings, if you want to rent you get an apartment, and if you want to own, you buy a condominium. A condo is based on a legal structure that necessitates a corporation with a board and systematic approach to operating the building involving monthly maintenance fees. (It's logical for maintaining a building as complex as a high-rise with many owners).
What about smaller buildings? Are there apartment buildings in Toronto where there are, for instance, five unit owners and no condominium structure? I'm really curious because it's common in various countries to buy non-condominium apartments. I never see any such properties for sale in Toronto. Was it more common before condominiums started to be built?
What about smaller buildings? Are there apartment buildings in Toronto where there are, for instance, five unit owners and no condominium structure? I'm really curious because it's common in various countries to buy non-condominium apartments. I never see any such properties for sale in Toronto. Was it more common before condominiums started to be built?