Most apartments built after 2005 were built condo-grade and design, meaning they potentially will do a full-on condo conversion once the market fully stabilizes. Right now you have the opportunity lease brand new apartments/condos and walk away from them when your lease is up. No HOA fees to use the amenities is an upside too. But the greatest advantage of all is the reputation of a management company and the services it provides to its residents. If the icemaker isn't working when you leave for a jog, it is when you get home. If the controlled access security gate to the property breaks, a management company is much better prepared to react and have it fixed than scrambling to find the HOA President to see if he can get ANYTHING done without a vote from the homeowners in the building.