The Real Deal Miami

Switching from sales to rentals? Think again.

March 17, 2010 12:32PM

With the residential market still reeling, more condo developers nationwide are looking to transform their prized pads from sales to rentals. But the transition can be a logistical nightmare, according to the Wall Street Journal, because what’s intended to be a sales unit often doesn’t compute as a rental. Developers tend to dole out more cash on pricey fixtures for condos and many often decide to switch tacks after they’ve already sold units — and telling homeowners that they’ll be living next to renters sometimes doesn’t go so well.