Updated over 11 years ago on .
Owner Cooperation
I have two quads on a block, cul-de-sac, that has 13 quads, and to my knowledge a total of 12 owners. This poses a few problems: 1) we always seem to be competing with one another. 2) There is no standard of care between the buildings, both of mine have been re-roofed and re-sided, other have the 1970's wood siding rotting off. 3) We compete with rents, and it has caused some owners to say that this is their worst property. I had to raise my rents to even get interest is the place, and it worked. I had encouraged the owners I could get in touch with to raise their rents to a similar level, rather than lower them.
My questions is: A- Would it create any legal issues if we agreed on rent rate guidelines for the block?
B- Any suggestions for working out standards of care, other than asking everyone to sign covenants and creating a POA?
I had suggested that we all use the same property manager and at least give the street the appearance of a cohesive complex, rather than 13 individual buildings.