Translation: We couldn't sell the apartments so we moved in for rent
Translation: We couldn't sell the apartments so we moved in for rent
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This is going to happen a lot in 2020.
Absolutely not binding and the opposite is true, New York is very common for rent construction where the entire building is rented, an entrepreneur who rents some of the apartments instead of selling them has shot himself in the foot for several reasons:
1. Financing expenses will kill him because they are higher than the yield.
2. He can no longer sell them as news, it knocks him out.
3. It is difficult to manage a building where some of the apartments are for rent, there is an advantage to the size where all the apartments are rented.
There may be exceptions that the market situation there is shabby but that is the rule.