Lately the newest craze for condos in Edmonton are conversions. This month we have been have gained 17 properties and they are all converted appartments which is pretty sad because the rental rate in Edmonton is 0.2% and each conversion means that there are even fewer rental units in the area.
Today I gained a property and it is a weird one. The blueprints say that there are 19 units and but the developer says there is only 18 units. The weird thing is when you go into the the appartment there is 19 units but one is an illegal unit so no one is living there. I am not sure why its illegal but they said something about the number of units to lot sized it is illegal for a condo to be 19 units but it is alright if the property was a rental and then they would be allowed to have the extra unit. It makes no sense to me but oh well I just manage it.
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