TurboTenant vs. RentSpree: Which Landlord Software is Right for You?
Taking charge of your rental properties yourself not only saves money but also puts you in control of day-to-day management with your tenants. ...
An apartment is a type of multifamily property that typically has three or more units, shared common areas, and community amenities. According to Bankrate, “Apartments are typically one-story units within a multifamily or multi-unit building. Depending on the number of units it contains, the building itself may be commercial property, but the units themselves are residential real estate.“
Multiple apartment buildings owned by the same person or management company are called an apartment complex. Typically, apartments are rented out by the unit to individuals and families, but they can be owned á la co-ops and condos.
Apartment tenants often sign leases that are one to two years long, which is great for landlords looking to shorten their vacancy cycle.
Purchasing property is a big decision, so it’s crucial to consider the benefits and drawbacks of apartment ownership before taking the plunge.
Janover Multifamily Loans offers compelling reasons why some real estate investors love buying apartment complexes, including:
That said, there are also important cons to consider.
Though owning a multifamily property can offer significant benefits, Janover Multifamily Loans outlines the potential drawbacks, such as:
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