Across the country, an estimated 25 to 40 percent of condo conversions have gone back to rentals. Lexington real estate could be impacted by this shift.
Property owners are unable to sell these converted condominiums and are welcoming back tenants. So far, rental rates have increased by 12-15 percent, but that price is likely to level out as additional conversions occur. Keep an eye out for conversions in Lexington.
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