Commercial Vs. Multi-Family Residential Property Management
If you’re only getting started with a career in property management, you might be wondering whether you should go for residential or commercial property management. To be able to make an informed decision, you’ll need to grasp the key differences between commercial and residential property management. Here is our take on the comparison:
In the case of residential properties, tenants don’t just pay rent, but also cover the utility payments such as water and electricity. If you choose to manage this property type, expect to receive around 8 to 12 percent of your monthly rental revenue from the property.