[quote=bearishgurl][quote=Ren]Condos usually give a better return than SFRs, even with $200+ HOA fees. And don’t forget what you get for those fees (new roof when needed, no need to pay a gardener $40/month, etc.). HOA and all other maintenance is deductable, as is depreciation of the structure itself. Condos are obviously more risky than SFRs, but not nearly as bad as most people think…[/quote]
Ren, more often than not, a new roof in a condo complex is usually partially or entirely funded by a special assessment of the owners (esp in a small complex).[/quote]
I don’t doubt that’s sometimes the case. However, I have a lot of friends that are long-term condo owners, I’ve spent years lurking in landlord forums, and your post is the first I’ve heard of a special assesment for roof, exterior paint, or siding. These are usually built into an HOA budget as “reserve expenses” separate from monthly maintenance. That shouldn’t change without some kind of mismanagement or a large number of defaults.
[quote]As a condo-landlord, you would need to also factor in occasional special assessments, depending on the age and condition of the premises and financial health of the HOA.[/quote]
