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Understanding the difference between a condo and a multifamily residence

MRI Software

A condo, or condominium, is a privately owned unit within a larger multi-unit building. Tools like multifamily property management software can also help landlords streamline tasks like rental income tracking and tenant management, making them a valuable addition to multifamily property ownership.

Finance 52
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What is multifamily property?

MRI Software

Condo A condominium, known as a condo, is a private residence within a larger complex or building where each unit is individually owned. For investors, these properties can be lucrative due to multiple rental income streams from a single location. These units can range from high-rise buildings to townhouse-style layouts.

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Multifamily condo conversion: Is it the right move for your property?

MRI Software

Many landlords are now exploring the potential of converting their rental properties into condominiums to unlock new opportunities for income and investment. A multifamily condo conversion involves transforming a rental property with multiple units, like an apartment building, into individually owned condominiums.

IT 52