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Key Takeaways

• Condo deconversion involves purchasing an entire condominium building and converting it into a single-owner rental property.
• The process typically requires a majority vote from unit owners, with thresholds varying by state and city regulations.
• Rising rental demand in urban markets is a major driver behind the growing popularity of condo deconversions.
• Investors often prefer deconversions over new construction due to lower costs, faster timelines, and reduced complexity.
• High maintenance costs and aging infrastructure are pushing many condo owners to consider bulk sales as a practical exit strategy.