Different Types of Real Estate

Real Estate

Different Types of Real Estate

Real estate is property comprising of the structures and land on it, and its accompanying natural resources including water, plants or minerals; immovable real estate; a lien upon the same, in exchange for an equivalent sum of money. The various types of real estate are: property for investment, commercial, residential, industrial, retail, recreational, mobile home park, agricultural, business to business, and others. Real estate deals include the purchase, lease, sell, and foreclosure of real estate properties. Real estate developers form a part of the large number of people involved in the field of real estate. Real estate deals involve large sums of money. These investments involve the buying of lands, building structures, homes, businesses and other real estate properties.

In a real estate investment, a person buys a plot of land, which later on he develops into residential or commercial property. Residential property includes houses, plots and blocks and vacant land. Developing residential land is known as developing land. Developing vacant land involves taking care of the irrigation, laying pipes, digging trenches, etc., required for constructing a house. The owner of the land then uses the developed land for producing the Gross Domestic Product (GDP) that eventually will make him the sole owner of the said property.

Vacant land can also be developed into housing estates. The four types of residential real estate include single-family residences, duplexes, row houses, condominiums, town homes and condominiums. The term real estate actually encompasses a wide range of entities including businesses, office buildings, retail shops, malls, schools, hotels, apartments, government offices, public amenities, and land in rural areas. The four types of residential real estate include apartment, condo, row-house, bungalow, and mobile homes. A residential property’s kind can be broadly classified into five.

One of the most in-demand types of real estate today is commercial real estate. The commercial properties are generally found in metropolitan areas such as malls, office buildings, shopping centers, hospitals, hotels, and other similar structures. The commercial properties are much larger in size than the residential ones and include office buildings, strip malls, hotels, industrial real estate, and strip mall areas. A typical commercial real estate property would include warehouses, parking structures, office buildings, hotels, shopping centers, and apartment buildings.

There are many different types of Real Estate. There are urban, rural, agricultural, business, residential, and industrial real estate. Urban real estate encompasses those types of properties which are located within large cities such as New York, Chicago, Houston, Sarasota, Atlanta, Phoenix, Los Angeles, Dallas, Denver, Las Vegas, and New Orleans. On the other hand, rural real estate occurs outside of major cities such as farm fields, country lands, undeveloped communities, and undeveloped strips.

The role of real estate agents or realtors is vital when it comes to collecting rent from residential tenants. The agents make sure that tenants receive the rental payments on time so that they will continue to pay for the property they have purchased. The roles of the realtors and property managers include ensuring that the property is safe for the tenants. In addition to collecting rent and acting as the mediator between the tenant and the landlord, the property management will also clean up the premises when tenants have left and take care of any repairs that may need to be done.