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I may rent at a managed complex, but I want to keep my options open. I was wondering if there was any advice of things to beware of?
a) I'm assuming that I should ask to see the deed to the condo to make sure it's not a scam. If I use a realtor to find the condo unit do they actually check on the legitamacy of the ownership or is it really no different from calling some owner from Craigslist?
b) Are the rules about who pays for repairs different from a complex? A long time ago I rented a co-op and the owner tried to make me pay for 75% of any repair needed in the co-op.
c) is there anything else I should watch out for?
make sure the condo allows renters..otherwise you can be out sooner than you think!
you shouldnt be required to pay anything ...only if you damage stuff.
normal wear and tear is understandable, and it comes with risk of having renters.....not your problem though.
you can check the county records to see who is the owner.
i would get a lease agreement signed.
you might need your own insurance to cover your belongings.
Quote:
Originally Posted by INeedAChange
I may rent at a managed complex, but I want to keep my options open. I was wondering if there was any advice of things to beware of?
a) I'm assuming that I should ask to see the deed to the condo to make sure it's not a scam. If I use a realtor to find the condo unit do they actually check on the legitamacy of the ownership or is it really no different from calling some owner from Craigslist?
b) Are the rules about who pays for repairs different from a complex? A long time ago I rented a co-op and the owner tried to make me pay for 75% of any repair needed in the co-op.
c) is there anything else I should watch out for?
Also, find out if you need to be 'approved' by the members. Find out if you are allowed to have pets and if so, what size. Find out what the rules are of the complex before renting.
thanks! If I find the rental through a realtor, can I assume they've checked that the owner is legit and the complex accepts renters, etc., or do I still need to check on these things myself?
Assume nothing. The realtor can easily find out if the owner is legit and would probably know in advance. As for the complex rules, she should also be able to produce a copy of the association 'docs' (documents) and have the association's phone number/contact.
Glad to be of assistance. The best to you in finding what you are looking for!
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