There is often confusion in the difference between apartments and condominiums (or condos). Both are shared living spaces, housing any number of units. In apartments, the entire building or set of units is owned by one person or company renting them out. Condos are individually owned on a unit by unit basis. Many people buy a condo, pay off the mortgage, and then rent it out and live elsewhere. Is owning a Floridian condo in your future?