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Updated over 5 years ago on . Most recent reply

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Paul Williams
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Creating a Condo Corporation (HOA)

Paul Williams
Posted

Have any of you ever had to create a condo corporation?

I am considering an apartment building with the possibility of splitting up and flipping the individual units into condos.
In this case, I would have to create a condo corporation so the individual units would pay condo fees.
I have never paid condo fees in my life, never owned a condo, rented apartments then bought houses.

Any tips on how one would go about this?

Cheers,
Paul

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Brian Ploszay
  • Investor
  • Chicago, IL
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Brian Ploszay
  • Investor
  • Chicago, IL
Replied

I hired an attorney to create and file a document called a "condominium declaration."   I am not sure where you are from, but there is a mechanism for this.   Call a few local real estate attorneys.

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