The definition of residential property is a different property of interest income from houses, apartments, co-ops, and apartment buildings.
Commercial property is the term used for the description of the property taken from the non-income housing such as retail space, office buildings, tenant industrial enterprises, and all other non-residential dwellings.
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Advantages of residential and commercial properties:
1. Great selection for tenants to rent, and a great demand for rental housing.
2. The high threshold of income from the consistent cash flow of multi-units and houses.
3. The residential property is relatively easy to finance and can simulate a home-financing.
4. Residential property prices are generally lower than commercial property.
5. Worst case scenario, you may live in multi-family properties and oversee tenant.
1. The commercial property offering long-term leases that provide consistent income and stability in investment.
2. In the commercial property management is not demanding, because most of the lease states are responsible for damage and repairs.
3. To complete the space in commercial property tenants may pay a flat rate fee and rent discounts.
4. Commercial property owners develop a stable income which increases as property values skyrocketed.