The condition of the condominium market in many parts of the country has got developers
and investors thinking up ways to convert projects into rentals. But it isn't easy.
First, developers tend to spend more on condos than rental buildings. The income
streams from rentals often aren't high enough to justify the cost of fixtures, materials
and finishes. Also, it is tricky to convert a condo development into rentals once
sales have taken place. What do you do about the people who have bought already?