Everyone has questions about when the next recession or price correction will happen. Many others want to know how it will affect homeowners and investors alike.
Before the guidance by the U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT on April 4, 2016 it used to be easy to determine if you are renting or selling your home to someone with a criminal past. If the Association doesn't allow it then you put in the listing that no one with felonies will get approved. If you are renting your home you state on the application that anyone with felonies will not be approved and that was it.
Can looks be deceiving? Yes they can. It's easy to only look at the outside appearances of things and not notice the worms hiding below.
You just moved into a new condo or HOA community, the homes look perfect and the landscaping is pristine. The security guards are nice and the pool is always sparkling. You like the area that you live but you always wonder why you have to pay the high association fees and what they cover. I will go over some of the average things that your fees cover and why its a good idea to pay the $200 to $500 per month that they are asking.
Want to live in your new dream Condo or HOA community faster? Well understand whats needed first. I'll go over some of the things to look out for when applying to live in a new community.
Some communities have the mentality that we can put it off till later. Ill explain how that thought process can be detrimental to the community and how it can actually make matters worse. I will go over some cause and effects of procrastination and things you can do to help remove this fatal flaw.
I know everyone usually thinks its easy to fire a property manager that is working with your community. They think they can just send a email and everyone will live happily ever after. Here are some things to actually look out for when you finally decide that your community deserves some one better.
I know what your probably saying, "What do hair cuts and property management have to do with one another?" I'll go over a quick story of a bad experience that my family and I recently went through. I'll then explain how these mistakes can transfer over to the property management industry or any other service oriented business.
Getting a great low quote for service is always an eye opener for managers and board members when going through the bidding process. It is a great play on the contractors side because it keeps them in the running. Here are some things to think about when you get the awesome looking low bid.
One thing a lot of management companies or associations don’t focus on is proper insurance coverage. This is the same for the associations and the property management company itself. Having proper insurance helps hedge against issues that may arise during day to day business. Or in the event that something disastrous happens to the association.