Newport's Ocean's Way Condos (rentals, assessor, lawyer)

[New Englander]

I have been very interested in looking at Newport's Ocean's Way (formerly called Newport Green) Condos. Does anyone have any information (good/bad) about these condos? I am interested in buying a vacation property in Newport and would like to hear your thoughts.

[Hollytree]

Here's what I'd do if I were you.

Newport Tax assessor database is available online (Vision Appraisal).
Search for owners by address and call a few owners of the Ocean's Way condos to ask if they're happy there and what they think about the condo association.

[New Englander]

Thank you for the advice, Hollytree!

I hope a few owners are willing to talk with me.

[Hollytree]

You're welcome. I would certainly respond if someone left me a message simply saying they were considering buying into the complex and would like some comments from existing owners. Let us know what you find out.

You're smart to investigate- condos can be either a reasonably good thing or they can be a disaster. Always ask for a copy of the condo docs/rules- especially concerning rentals- before even making an offer.

Single family ownership is generally safer but I can certainly understand why you'd want a condo given your circumstances.

[New Englander]

Originally Posted by Hollytree

You're welcome. I would certainly respond if someone left me a message simply saying they were considering buying into the complex and would like some comments from existing owners. Let us know what you find out.

You're smart to investigate- condos can be either a reasonably good thing or they can be a disaster. Always ask for a copy of the condo docs/rules- especially concerning rentals- before even making an offer.

Single family ownership is generally safer but I can certainly understand why you'd want a condo given your circumstances.

I am expecting more than a few owners to slam the phone on me, think it's some type of RE scam, however it's the best option to get some honest opinions.

I am definitely going to have a lawyer review the condo docs/rules to make sure that there isn't anything problematic, however you make another excellent.

I am generally wary of condos. However for a vacation type property, I would rather do a condo with all the exterior maintenance/issues dealt by the professional management team.

Lots of research to do!

[New Englander]

Just closed on the condo. I wish I could live there year round!

Newport is an amazing place. Glad to have a small foothold there.

[Hollytree]

Congratulations!!!

Did you call any owners and did they talk to you? Do tell!

[New Englander]

Thank you so much, Hollytree!

I definitely spoke with a few owners. The general consensus was that Ocean's Way property management has done a really terrific job with respect to the condo management. They have maintained the buildings/common area/parking without adding too many costs.

I would like to thank you for the suggestion, as it really helped me feel comfortable with the decision to purchase the unit.

[Hollytree]

Glad to help. You know, I looked those up and the price is sure right plus the fees cover a fair amount.

I have seen so many condos where the fees hardly cover any immediate expenses.

[New Englander]

Originally Posted by Hollytree

Glad to help. You know, I looked those up and the price is sure right plus the fees cover a fair amount.

I have seen so many condos where the fees hardly cover any immediate expenses.

Agreed on all accounts. Plus the location is excellent for me. About 1/2 mile from everything (downtown, water, mansions).

I like the fact that there is professional management on-site.