The following property types ARE required for listing entry on the BSCMLS if the property is on a lot of 40 acres or less, AND located within the BSCMLS service area
A residential area is land used in which housing predominates, as opposed to industrial and commercial areas. Housing may vary significantly between, and through, residential areas. Zoning for residential use may permit some services or work opportunities or may totally exclude business and industry. It may permit high-density land use or only permit low-density uses. Residential zoning usually includes a smaller FAR (floor area ratio) than business, commercial, or industrial-manufacturing zoning. The area may be large or small.
The home is used as a single dwelling unit (1 family), has direct access to a street, and does not share heating facilities, hot water equipment, nor any other essential facility or service with any other dwelling unit. Most Single-family homes are built on lots larger than the structure itself, adding an area surrounding the house, which is commonly called a yard. Garages can also be found on most lots and can be either attached to the main structure or detached.
Modular homes are residences built in a controlled factory environment in sections or modules and then transported to the construction site. There, they are installed on permanent foundations and completed by professional installers. Modular homes have to pass all the same building codes as Single-family homes, and therefore can be classified in the MLS as ‘Single-family'. Modular Homes are NOT the same as Manufactured Homes, which are built in a factory and delivered to the construction site in one completed structure. Financing for Single-family and Modular homes also has different rules than Manufactured Homes. To find more information on financing you should contact a professional before offering any guidance to potential buyers.
Accessory Dwelling Units (ADU; Guest House)
An ADU is a second complete dwelling unit that is legally built within or on the same lot as an existing single-family residence. An ADU provides complete independent living facilities including a kitchen, bathroom, and its own entryway. ADUs are typically not allowed to be sold separate from the primary home and the homeowners are usually required to reside in one of the two units.
Attached ADU vs. Detached ADU
Detached ADUs are not attached to the main house, and are only accessible by exiting the main structure of the property. The square footage of a Detached ADU cannot be included in the Total Square Footage of the home. ADU Features in the MLS must indicate it is ‘Detached.
Attached ADUs, on the other hand, are attached to the main house, and can be accessed without having to leave the main structure of the property, usually through a staircase or annex. The square footage of an Attached ADU can be included in the Total Square Footage of the home. ADU Features in the MLS must indicate it is ‘Attached’.
A type of living space similar to an apartment but independently sellable and therefore regarded as real estate. In most cases, Condominiums share side walls with adjacent units. Condominium owners usually own their individual unit space, and all the dwellings share ownership of common-use areas. The individual units normally share walls, but that isn't a requirement. All the land in the condominium project is owned in common by all the homeowners.
Similar to Single-family homes but the yards, corridors, building exteriors, and streets as well as any recreational facilities (like a pool or pools, bowling alley, tennis courts, golf course, etc.), are jointly owned and jointly maintained by a community association. Detached Condominiums must be identified in the Condominium Info tab of the MLS with ‘YES’ selected for the Detached Condominium field.
A form of medium-density housing, whereby a row of attached dwellings share sidewalls, and often has a small footprint on multiple floors. Townhouse owners usually own the land on which the house is situated, including any front and backyard area that goes with the residence, no matter how small. They also own the home's exterior.
Additionally, townhouse communities generally have homeowners' associations (HOAs).
A type of prefabricated housing that is largely assembled in factories and then transported to sites of use. Manufactured homes are built as dwelling units of at least 320 square feet in size with a permanent chassis to assure the initial and continued transportability of the home. The requirement to have a wheeled chassis permanently attached differentiates "manufactured housing" from other types of prefabricated homes, such as modular homes.
Mobile vs. Manufactured
“Mobile homes” refers to homes built BEFORE 1976 and “Manufactured homes” refers to those built AFTER 1976 under a higher set of building standards.
For a Manufactured home to qualify for Residential listing entry, there are several criteria that must be met, and being secured to the ground on a HUD-approved permanent foundation is one of them (concrete runners with permanent tie-downs are considered permanent foundations).
Manufactured homes built in 1976 and prior (a.k.a. 'Mobile Homes') cannot be de-titled because in Montana, titles were not issued for these homes. However, just because a manufactured home was built in 1976 and prior cannot be de-titled does not mean it cannot be entered as a Manufactured home in the Residential class.
In the Attributes tab of the Residential class, there is a field titled "Permanent Foundation Type". The options available in this field identify what type of permanent foundation a Manufactured home is secured to, a key element in what can be considered a HUD-approved Residential foundation, and whether or not it qualifies for Residential listing entry in the MLS.
Multi-Family is a classification of housing where multiple separate housing units for residential inhabitants are contained within one building or several buildings within one complex. The Multi-Family category includes all buildings containing at least two housing units that are adjacent vertically or horizontally. They do not share a heating system or public utilities such as water supply/sewage disposal.
A Duplex house plan has two living units attached to each other, either next to each other as townhouses or condominiums, or above each other like apartments.
A Triplex house plan has three living units attached to each other, either next to each other as townhouses or condominiums, or above each other like apartments.
A Fourplex house plan has four living units attached to each other, either next to each other as townhouses or condominiums, or above each other like apartments.
- The requirement for a listing to be entered as a Duplex, Triplex, or Fourplex is that the entire building must be purchased as a whole. If individual units are available as a purchase option, those units must be entered into the appropriate property type (Townhouse or Condominium), accompanied by the submission of the Multiple Listing Entry form to the BCSMLS office on the same day the other listings are entered on the
Multiple separate housing units for residential inhabitants that are contained within one building or several buildings within one complex. A common form of multiple dwelling listings is separate individual units within a building that otherwise could not be classified as a Duplex, Triplex, or Fourplex. All units in those particular property types are side-by-side, usually separated by a shared wall. Another common form of multiple dwellings is separate individual cabins.
- The requirement for a listing to be entered as Multiple Dwellings is that all units for sale must be purchased together. If individual units are available as a purchase option, those units must be entered into the appropriate property type (Townhouse, Condominium), accompanied by the submission of the Multiple Listing Entry form to the BSC MLS office on the same day the other listings are entered on the
The Home w/Apartment property type can be used as a way to gain more exposure for Residential Single-family homes that include an Attached ADU.
- The requirement for a listing to be entered as Home w/Apartment is that the apartment meets certain criteria, including, but not limited to, a kitchen, living quarters, water, sewer, etc. The apartment must also be accessible without having to leave the main structure to get to it. Square footage for the apartment can be included in the total square footage of the entire
NOTE: if the apartment is not attached to the main structure, it cannot be entered as Home w/Apartment.
A cabin is a small log house, and less finished or architecturally sophisticated structure than a Single-family residence.
- The requirement for a listing to be entered as a Cabin is that the legal description shown on the Exclusive listing agreement as the primary property for sale belongs to the Cabin and no other structure on the property. Multiple Cabins being sold together can also be entered as Multiple
FARM (defined) – land that is, or can be, used for agricultural purposes. Agricultural is a vast field, and the term “farm” encompasses it all. A farm is a land where a farmer grows crops and livestock for dairy products. The focus of people working on a farm is to keep the soil fertile for growing healthy crops.
RANCH (defined) – land where livestock is, or can be, raised. A rancher works to maintain the grazing grass as it is essential for the livestock animals.
A Farm, or a Ranch, that does not include a residence.
*The Land Only property type is not subject to the rules of Clear Cooperation
A Farm, or Ranch, that includes a residence.
Real Property, is Land that is the property of some person and all structures (also called improvements or fixtures) integrated with or affixed to the land, including crops, buildings, machinery, wells, dams, ponds, mines, canals, and roads, among other things. Personal property was and continues to be, all property that is not real property. When determining which property type to enter your listing in the Land class, you must first understand what is being sold along with the Real Property (LAND).
A plot of land that does not include any structure of any kind. It is completely vacant of any personal property.
*The Vacant Land/Acreage property type is not subject to the rules of Clear Cooperation
Land w/Mobile or Manufactured Home
A plot of land that includes a Mobile or Manufactured Home that is not de-titled, secured or tied down to a HUD approved permanent foundation…a.k.a. Personal Property.
A plot of land that includes any other structure classified as personal property (i.e., yurts, sheds, wall tents, vehicles, boats, movable goods, etc.).
*The Land w/Structure property type is not subject to the rules of Clear Cooperation
The following property types are NOT required for listing entry on the BSC MLS. Because these property types are not required for entry, there is no requirement to submit the Listing Exemption Authorization form. The size of the lot and the location of the property is irrelevant. However, if any non-required listing is entered on the MLS, it is subject to the same Rules and Regulations as all required property types.
Similar to other multi-family properties that are all connected by shared walls, or multiple dwellings not connected but within the same building, multi-family properties containing 5 or more units qualifies as commercial property for borrowing and tax purposes. For the purposes of the MLS, anything that is classified as a Commercial property is optional for listing entry.
- The requirement for a listing to be entered as 5+ UNITS is that all units for sale must be purchased together. If individual units are available as a purchase option, those units must be entered into the appropriate property type (Townhouse, Condominium).
The term commercial property (also called commercial real estate, investment, or income property) refers to buildings or land intended to generate a profit, either from capital gain or rental income. Commercial property includes office buildings, medical centers, hotels, malls, retail stores, multifamily housing buildings, farmland, warehouses, and garages.
Local authorities commonly maintain strict regulations on commercial zoning, and have the authority to designate any zoned area as such; a business must be located in a commercial area or area zoned at least partially for commerce to be classified as commercial.
Business w/Assignable Lease
In addition to the business, the seller is also handing over their lease on the building. An assignable lease is the saleable remaining portion of a lease that a licensee wishes to sell, the value of the lease being gauged on the viability of the business. A number of factors go into calculating this, such as length of remaining lease, profit, rent, area, condition, etc.
Business and Building
Buildings that are used for commercial purposes, and include office buildings, warehouses, and retail buildings (e.g. convenience stores, 'big box' stores, and shopping malls). In addition to the building, the seller is also offering their business as part of the listing. Examples of items that may be included in the sale of the business and building are, but are not limited to, liquor and gaming licenses, appliances, equipment, inventory, furniture, and client portfolios.
Buildings that are used for commercial purposes, and include office buildings, warehouses, and retail buildings (e.g. convenience stores, 'big box' stores, and shopping malls). No business is included in the sale of a Commercial Building listing.
Commercial condominiums offer business owners, developers, and real estate investors maintenance conveniences similar to those enjoyed by residential condominium owners, as well as tax, marketing, and ownership advantages that may not otherwise be available. A commercial condominium unit is, essentially, an enclosed space owned and controlled exclusively by the unit owner. The buildings and the common areas within the development, both internal and external (corridors, public restrooms, elevators, stairways, parking facilities, green space, and landscaping), are owned in common by all of the unit owners and administered by a condominium association.
Some examples of commercial condominium developments include newly constructed medical office parks, street-level retail condominiums created in a refurbished urban building with residential condominium units created in the upper floors, and an existing office park or strip mall converted to condominiums to sell space to existing tenants or investors.
Commercial land can be any plot or section of land used for commercial purposes and intended to generate a profit. This means that the land hosts warehouses, industrial property, retail stores, parking lots, malls, hotels, office buildings, and medical centers. Commercial Land listings in the Commercial (FOR SALE) category only include the sale of the land, not any buildings that may be on it.
A commercial lease is a contract between a landlord and a business for the rental of property. Most businesses will choose to rent property instead of buying it because it requires less capital. Commercial lease agreements are more complicated than residential leases because the terms are negotiable and vary greatly from lease to lease. Terms subject to change include the rent amount, rent increases, the length of the lease, the ability to assign a lease, and allowable improvements.
Commercial leases usually include the following terms: rent amount, rent increases, security deposit, length of the lease, improvements, description of the property, signs, use clause, exclusivity clause, assigning and subletting, and compliance with the Americans with Disabilities Act (ADA).
Commercial land can be any plot or section of land used for commercial purposes and intended to generate a profit.
A room or rooms in a building that provides a suitable environment for office operations.
A place where people pay to sit and eat meals that are cooked and served on the premises.
A commercial property used by a company that sells goods or services directly to the buyers.
A large building where raw materials or manufactured goods may be stored before their export or distribution for sale.
Any commercial business space that does not fall under any of the above-mentioned commercial classifications.