Property Management Vs. Real Estate: Two Competitors Of Post-Modern Housing

In order to understand the gravity of the current housing crisis in North America, one has to look at these two terms, their history, and how each mode tends to consume society’s understanding of what “housing” should be like.

A Further Look At These Two Terms
On the one hand, the term real estate denotes property, land, and the building as something owned by the purchaser. And then there’s property management, which involves a piece of property being managed by a particular party and is not necessarily owned by someone who pays to live there. In the former case, a person chooses to buy a piece of property, and it becomes theirs. In the latter, a piece of property is owned by someone else, and the person who chooses to reside in or on that property must pay to occupy that piece of property. As confusing as it may seem, the take-away of this situation is that there are people who are fortunate enough to afford real estate, while there are others who must pay rent dues to a property management of some sort. A lot of the time, the whole idea of “paying to a property management official” is really just another way of talking about rent. However, this terminology is quickly changing, as there are new ways a person can rent, own, and share a piece of property and the amenities sometimes found within.

Common-Interest Developments
A common-interest development (CID) is most commonly referred to as a condominium. Condominiums are very popular in that they represent homeowners being able to buy an apartment in a mid or high-rise, instead of the aging 20th century idea of only being allowed to rent them. However, “owning” a condo has many strings attached, as there could be a strict set of rules involved with how people share the space that would otherwise never come up in the conversation of owning a piece of real estate. Sometimes a CID may take the form of a timeshare or a cooperative that can drastically help people who cannot afford to pay to own an apartment outright.

There Are Other Services Available To Help
Whether it’s an apartment management team in San Diego or one in Detroit, there are services available to help individuals, couples, and families find suitable and affordable housing solutions. The stigma attached to real estate is slowly starting to form as the Millennial generation feels disenfranchised. Millennials tend to feel as if they do not have an upper hand in the housing market. However, there are still options and plans available for anybody out there choosing to rent, own, or share.

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