I HATE condo's as rentals! Here's why...
I know, I know, "hate" is a pretty strong word, but it's true, I hate condo's as rentals. I reluctantly bought a REO condo 3 1/2 years ago and had it as a rental up until last week when I sold it and I couldn't have been happier to get rid of it! Here is my reasoning: It's all about the lack of control and being subject to the HOA. They can dictate EVERYTHING! They (HOA) even have the power to tell you you can't rent your own property! Oh, and besides that, you are subject to their fiscal responsibility (or lack thereof). What if your HOA isn't putting away portions of the monthly dues to pay for capital improvements? That's right, you could have a big assessment coming your way and you don't even know it.
I do a weekly video blog called "From the Trenches" and this week (view it here:https://youtu.be/Zcx0cplVObw) I talk about my condo rental experience and what I learned from it. I share about how I got the condo, what I did with it, and how I got out of it.
So what do you think about condo's as rentals? Anyone happy with their condo rental?