Benefits of Converting
The main benefit of condo conversion is simple: With conversion, a property's value tends to increase. Why? A condo is easier to buy/sell than a TIC. This ease of acquisition or disposition mediates some of the risk associated with owning a home. Therefore mortgage financing for condominiums will often have more favorable terms than will TIC or co-ownership financing. Lenders have only one borrower to consider and that borrower has no other parties with whom they must share ownership responsibilities.