cleo_titles
First-time buyer
I’m deciding between a 180 m² small multifamily property and a similarly priced retail unit in Bogotá. My initial view is that the multifamily option may have steadier tenant demand and less damaging vacancies, while the retail unit offers more control but could bring larger, irregular costs and longer gaps between tenants.
I’m modelling service charges, insurance, energy use, routine maintenance, management workload and resale liquidity. I’m less sure how to account for shared-building reserves, tenant-specific fit-out or repair costs, and the risk that one vacancy changes the economics of the retail unit completely.
For owners familiar with either property type in Bogotá, which expenses or management demands became apparent only after the first year? A practical checklist—and any reasons my assumptions about maintenance intensity or vacancy risk may be wrong—would help.
I’m modelling service charges, insurance, energy use, routine maintenance, management workload and resale liquidity. I’m less sure how to account for shared-building reserves, tenant-specific fit-out or repair costs, and the risk that one vacancy changes the economics of the retail unit completely.
For owners familiar with either property type in Bogotá, which expenses or management demands became apparent only after the first year? A practical checklist—and any reasons my assumptions about maintenance intensity or vacancy risk may be wrong—would help.