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A condo can be similar in structure to an apartment ? usually a unit within a larger residential building ? but condos are owned instead of rented. The property taxes of a condo are paid by the owner; property taxes for an apartment are paid by landlords, not renters.
What to Include in a Rental Cover Letter Summarize Your Employment History. A landlord is far more likely to rent to someone with steady employment ? they need the tenant to be able to pay rent every month. ... Share Your Hobbies. ... Discuss Your Thoughts on What Makes a Good Neighbor. ... Explain Why You Want To Live in This House.
Rental income includes any payment received for use or occupation of a rental property. Rent received and landlord expenses paid by the tenant are two examples of rental income. Security deposit from a tenant is generally not treated as rental income, except in certain situations.
?Source of income? is defined as legal, verifiable income paid directly to the tenant or his or. her representative (such as a payee). Some examples of income types are Social Security, Supplemental Security Income (SSI), AFDC or CalWorks, unemployment insurance, veteran's benefits, pensions, and wages.
These condo vs. apartment differences generally make apartments a better choice for those looking for more flexibility with where they live, while condos may be the better choice for families or individuals who plan to live in one area for an extended period of time.