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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. Residents own their individual units outright, but shared spaces like gyms, pools, and hallways are managed collectively through a homeowners association (HOA). What is a condo and how does it work?

Finance 52
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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