Condo living: pros and cons of a small HOA Q: I purchased my condo in July 2021. Since then, the condo board put through a special assessment for $120 per month for the next 84 months to pay for “unsafe balcony” repairs. This was not disclosed at the time of my closing. Condo HOA is [...]
What is a good amount of condo reserves? How do I know if my condo building has enough cash reserves? Q: How does your rule of thumb for condo reserves factor in the condo building's location? For example, the exact same building on Miami Beach and Fort Pierce would have the same reserve items and [...]
Is a condo or townhouse a better investment? These readers want to buy property in San Francisco they plan to rent out when they move in a few years. Q: I just read the AMA Ilyce did on Reddit about a year ago on buying a home. Thank you for all the information that you [...]
How do you navigate new rental rules from your condo association and is it possible to be grandfathered into the old rules? Q: We are buying a vacation condo which we plan to use in the winter months, but also hoped to rent it in other months. We just learned that the condo association has [...]
A condo association has the right to approve or reject buyers, but as in the case of this buyer, it's important to be aware of your rights. Q: My mother and I are on the same deed since she added me in 2010. She’s still alive and there is no mortgage on the property. The [...]
