HOAs on out of state rental
I'm looking to buy out of state due to home prices being so high in the city I live. I'm looking for a good place to get started and I have found a serious contender. Although, it is managed by an HOA with monthly dues. HOA covers Trash, Maintenance Grounds, Insurance, Water, Management. Are HOAs always a no no for rental properties? Out of state or not? I've personally had horrible experiences with HOAs in the past but I'm seeing what others think.
Most Popular Reply
@Reed Lambier
I don't know what I dislike more these days, HOA's or the media. You are at their mercy, and their rules can change. I'll give you an example, I live in a condo personally, and after my 1st year they raised my fee by $50 per month, gave me a $6 000 special assessment for a new roof/siding that needed repaid over 3 years, and they just now stopped allowing anyone from renting their units.