Review your condo association's rules regarding renting units. This information is found in the association's governing documents, sometimes known as a declaration of covenants, conditions and restrictions. The CC&Rs outline community rules that residents -- owners or tenants -- must follow. Should...
The biggest difference between condos and apartments is the fact that condos are bought and owned, whereas apartments are rented. So rather than thinking about the design and style of the unit itself, the real question is this: Do you want to buy a property or rent one?
such as doing repairs and taking out the trash. In slightly larger buildings, the super may have a porter but he still does hands-on repairs. In still larger buildings, where there's a staff of
“I think that there will be litigation over short-term rentals. Condominiums have been attempting to limit the presence of rental services such as Airbnb in their associations. The proliferation of such services and the frequency of association efforts to prevent it is likely to lead to dispute...
When you own a condo, you’re usually part of an association, an HOA. This association typically requires all members to pay membership fees and abide by certain rules and guidelines. As an owner and association member, you’re entitled to certain rights and protections under the law, and ...
A condominium, cooperative, or homeowners’ association elects a board for a specific purpose: to manage the community’s day-to-day business, oversee special projects, and draft and uphold the rules and regulations that keep life orderly and harmonious. In fact, the board has an inflexible fi...
We live near a major hospital and when we travel, we would like to occasionally offer out our room for free to people who might be visiting for an illness or a sick child. This is much harder to do with traditional real estate investing!
Imagine you’re part of a condo association, and there’s a big argument about the rules. Maybe someone wants to change the color of their front door, but the rules say you can’t. Or perhaps the condo board decides to start a big project, like updating the pool area, but not everyo...
Send me a private message if you would like to share your rules. Thanks. I have an unusual situation. I bought my condo from the developer (no resident HOA owners in control yet) who was the President of the "HOA." As part of my sales agreement, the developer installed a 240V 14/...
If you had to name the single most valuable individual to your co-op or condo, who would it be? Certainly, your board president, managing agent, corporate counsel and accountant are key players. But boards and residents should never underestimate the importance of a competent, conscientious supe...