Condo, PUD, Co-op: What's the Difference? Condos: Walls, floors, and ceilings owned by all residents; HOA dues; covenants, conditions, and restrictions; value depends on the desirability of entire development. Condos will generally have no personal use/ownership of land except in special cases. Planned Unit Development (PUD): Individuals own structure and some land.  Co-op: Corporation made up of all tenants; larger units have more power in how building is run; fees for taxes, mortgage, repair, improvement; heavy scrutiny of financial, personal history. * South Florida Lenders tend to be unfamiliar with Co-ops  and so financing Co-ops can be challenging. Townhome: Not a form of ownersh…