Land, building, roads, sewers, structures, etc. make up a property called real estate. A real estate property cannot be moved which is why it remains fixed. While dealing with transferring, the title of a real estate can be transferred related to surface, air and mineral rights. This means, the property can be purchased, sold, transferred or even leased. Real estate property has its fair share of types. Here are a few ones.
- Industrial Real Estate –When a property or structure is used for the purpose of warehouse or manufacture, then such a property is described as Industrial real estate. Such a property is used for the purpose of research, goods distribution, research and production purpose. However, there are a few industrial real estates involved in goods distribution that can be considered as commercial.
- Commercial Real Estate –When we see shopping centers, malls, hospitals, offices, hotels etc, such property are described as commercial real estate. Commercial real estate is all about earning money or profit. For example; an owner can lease his property to tenants on rent basis. This property is then used by the tenants to produce their own share of income.
- Residential Real Estate –It is the most common real estate we know. New buildings under the verge of construction or homes are few of the examples of residential real estate. Residential real estate also includes co-ops, condominiums, vacation homes, duplexes etc. Residential real estate’s aim to for people to live in.
When you’re looking to invest in any one of these real estates, you should always hire property lawyers in Perth.