All Forum Posts by: Alvin Sylvain

@Jenn A. I'm no tax accountant, but I believe either choice, the shade or the gift card, is tax deductible. However, the shade is a good selling point for future tenants, while the gift card is one and done.

I work very hard 8 hours every day. I carpool 1 hour to work, and 90 minutes home, every day.

.

When I get home, I'M TIRED, no matter which one of us was driving.

.

But I find participating in forums like this to be relaxing and enjoyable. And what the hey, if I'm going to spend time on an online forum, it might as well be one with potential to help me make some money, right?

.

So it's either this or play video games until bed-time.

At the end of the day the Renter is the one paying the HOA. The Renter is paying for everything, no matter what it says on the Lease. If it's a separate line-item, the Renter pays it as a separate line-item. If it's included in the rent, the Renter pays it as part of the rent. So the only question is, does the Market Rent for that location and Type of Unit cover the HOA, plus Debt Service, plus whatever other Expenses need to be paid.

.

Because if it doesn't, the Landlord is in for a world of hurt!

.

The other thing I wanted to mention is, you might consider getting yourself on the Homeowner's Association Board. If it's allowable, and if it's not too far away, and if it's otherwise not too inconvenient. That way, you can at least have some input to how the money is spent and how or when the fees change.

.

The way you need to look at a HOA, if it's done correctly, is as an enforced Maintenance and Capital Reserve expenditure, which are moneys you'd have spend one way or another anyway. The HOA, like Maintenance, covers grounds keeping and fixing toilets. And, like Capital Reserves, a part gets squirreled away so that in 15 years you can put in a new roof.

.

Again, if it's done correctly. Which is why you have a vested interest in being on the Board, or at least attending meetings. If you can.

@Nicholas Morgan You sound to me like you've fallen in love with the property. There's nothing wrong with that, but don't let your emotions cloud your judgement. If you can't make the numbers work, walk away from the deal. There will be others. Besides, being willing to walk away can be a great negotiating tactic!