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Multi-family refers to a type of building that houses two, three, or four apartments under one roof.
It’s an attractive alternative to buying a detached house. With a house, you’re dependent on a single tenant : as long as they’re there, everything is fine, but as soon as they leave, you’re faced with a period of vacancy.
In the United States, tenants typically give a month’s notice, which can result in one, two, or even three months without income while a replacement is found.
With a multi-family property, the situation is very different. Even if one tenant leaves, the others continue to pay their rent, significantly reducing the risk of a complete vacancy. It’s a much more stable model.
In short, a multi-family building with two, three, or four units is similar to what is called an apartment building in France, but on a more accessible scale.
