Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I plan to rent soon and I've noticed some people renting their condos for which ever reason. I'll consider renting a condo. What's different about it, is their something extra I should know? Isn't there an extra monthly cost to maintain the community? U know because they're normally in buildings where other people live. What's the biggest reason people rent their condo as opposed to someone renting their house?
You will have to check with your prospective landlord to make sure your rents cover the fees or if you are responsible for paying the HOA fees. Usually it should be included in the rent as it is the owners responsibility to pay the HOA fees.
I own a condo and rent it out. I think the neighborhood is a bit better as most people that live in the building have a very important stake in the look and condition of the building since they own them, unlike regular apartment rentals.
Check with the condo association (they'll have one). You may be responsible for your share of pool maintenance, lawn care, security... Regardless of the vacancies, the people living there will have to share 100% of the expenses. The fewer residents, the higher the assessments. Ask what the occupancy is and what your responsibilities are. Other than money, people live in condos because it's easy. There are a lot of hidden fees with this type of living.
Some condos are purchased as investment, some are rented because of relocation or some for financial problems. Make sure anything you rent has all your questions answered in the lease. Condo fees should be addressed in the lease. That is, who pays them. it does not matter how much the fees are if the LL pays them, just make sure it is stated in the lease.
Any other concerns, ask and have the issue addressed in the lease. If the LL refuses to put it in the lease and tells it it's verbally OK...walk as fast as you can.
I've never heard of tenants paying for the HOA dues. Of course, I'm sure it's "hidden" in the rent. I would also suggest asking to see a copy of the Rules & Regulations before you make a committment. The R&R's can be very harsh.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
