03-05-2024, 03:00 PM
I wonder how those buildings are structured...i.e., is the developer the commercial landlord or is the residential condo corporation?
If the developer is the commercial landlord then they have a lot more flexibility to hold out for higher rent, but there must also be some complex sharing arrangement to share the building facilities between the condo corp and the rented portion.
If the condo corp is the landlord they're highly motivated to bring in rent to keep the finances in good order, but they also have a much simpler building maintenance arrangement.
If the developer is the commercial landlord then they have a lot more flexibility to hold out for higher rent, but there must also be some complex sharing arrangement to share the building facilities between the condo corp and the rented portion.
If the condo corp is the landlord they're highly motivated to bring in rent to keep the finances in good order, but they also have a much simpler building maintenance arrangement.