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The answer isn't clear cut because there are demands for both. However, consider these factors when making your decision: Upkeep Single family homes typically require extra upkeep and maintenance (especially if they are older). They require regular yard maintenance, exterior painting, roof repairs, etc. on the other hand, condos only require maintenance within the unit as the upkeep of the exterior and common areas are maintained by the HOA and are part of the monthly assessment. Condos create reserves from HOA fees to manage major exterior updates or repairs (i.e., A new roof). Maintenance costs Single family homes come with monthly costs like trash, heating, water, lawn mowing, etc., each needing to be paid separately. The good part is that some of these costs (heat, water) will fluctuate depending on the season and occupancy (vacant, one person vs. multiple people). Condos require you to pay a monthly assessment regardless of occupancy, however, most condos include heat, exterior maintenance, trash, building insurance and water in their monthly fees. Time/commitment Single family homes, no doubt, take more time to manage and require a more active, hands-on investor because there are many more things that require upkeep and maintenance. For investors will little time to dedicate to this, a condo might be the better option. Rental rate Rental rates are generally determined by the property location, type, number of bedrooms, amenities and lease periods available. If your rental is in a condominium complex, that is 30% investor-owned, rates may be fairly uniform with similar units within the building. Resale value while resale value depends on a multitude of variables, single family homes typically are easier to resell and hold their value over the long-term. During certain market periods a condo building with multiple units may have numerous units for sale, making it a more challenging time to sell. These are just some considerations to reflect on when deciding on the right type of corporate housing investment for you. be sure to do your homework and take a "gut" check to find out what kind of investor you are and what type of property would work best for you.
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