A large property, divided into single units for the purpose of sale, is a condominium. So how is it different from a regular property? Much of the difference springs up due to the kind of ownership. For example, in the case of an apartment, a single family purchases not just the unit but they also have a right of ownership on the land on which the structure is built. In the case of a condo, the ownership is slightly different. A condominium is inside a residential building or community but the unit is privately managed by the individual or landlord of the property. This landlord has no say in the functioning of the larger building or even the plot of land in which his/her property is built upon. A home owners’ association may, however, come together to help out with the property management. They may also be referred to as the condominium management, consisting of a group of owners that come together to oversee lawn maintenance, etc. For services such as these, condo owners will have to pay a certain amount.