Photons in a dye filled microcavity have been proven to form Bose-Einstein condensates both theoretically and experimentally. The system may also be placed in a fundamentally non- equilibrium state where multiple modes are condensed. This thesis theoretically examines some of the deviations from traditional Bose-Einstein condensate models which have been observed and which may be expected in future experiments. Unusual and potentially unseen condensed states are predicted, along with the unexpected non-critical slowing down of system evolution when in these states. A rigorous derivation of a master equation from a microscopic Hamiltonian is given in chapter two. This is used to study the multimode phases of the condensate in chapter three along with transitions between them. The temporal evolution of the condensate in various phases and close to phase boundaries is presented in chapter four. Dramatic improvements in the simulation of photonic condensates are also discussed in chapter four. These improvements also offer a conceptual shift in the theoretical description of photonic condensates which allows new insights to be made. The fifth chapter establishes a foundation of coupled rate equations which may be used to model the higher order coherences of photons and molecules in future work. Finally the transport of photons across non-standard cavities is modelled, providing guidance for future experiments and possible applications of photonic condensates.