Property Type is used to categorize a listing entered in the MLS. Most listing searches begin with the criteria of Property Type, accurately identifying the property type is important to your listing’s visibility to the appropriate agent and buyer group. Review the definitions below to understand the various Property Type characteristics.
Residential:
A 1 to 4-unit property that is for sale used or intended as a human dwelling.
Residential Lease:
A human dwelling unit offered for lease intended for tenant occupancy.
Residential Income:
A property for sale, used or intended as a human dwelling which can generate rental income from tenants.
Manufactured in Park:
A manufactured home located on a property site that is leased. A manufactured home is defined as a human dwelling unit that is fabricated or built entirely in a factory under a federal building code administered by the U.S. Department of Housing and Urban Development, transported to the site and installed. Manufactured homes that include owned land in the sale of the property should be placed under the Residential Property Type, using Manufactured on Land as the Property Sub-type.
Land:
A property that is listed primarily for land value. Properties of this type may or may not include a structure or improvements.
Land Lease:
A property that will be a lease for land only must be entered into the property type of Commercial Lease with a Property Sub Type of Unimproved Land.
Commercial Sale:
A property that is permitted to be used for commercial purposes (industrial, office, retail, and multi-family properties comprised of 5 or more units).
Commercial Lease:
A property that is permitted to be used for commercial purposes (industrial, office, retail, and multi-family properties comprised of 5 or more units), intended for tenant occupancy.
Business Opportunity:
A sale or lease of an existing business or enterprise, whole or in part, which may include any combination of the business assets, whether real or personal. This would also include the sale of an interest in a business entity which owns real property assets.