[quote=FlyerInHi]Millennial, i was looking for a multiunit but those are impossible to find in a decent area.
There are many multi units but on deplorable streets full of other multi units so there would be spillover problems.
I believe in gentrification of older centrally located areas. But it’s hard to get owners on board. Some landlords are so cheap they won’t replace water valves until there are leaks. They don’t do any maintenance.[/quote]
It sounds like you have a problem, but it also sounds like that many on the HOA board will agree to some maintenance improvements. What’s the ratio of rent vs. own in the complex? I think many owners would be OK with increase monthly HOA dues to improve the value of their property and if you can sell the idea to landlords that improved property/amenities = higher rents you will get their vote as well. I haven’t invested in Nevada before so don’t know if their is rent control, but you could try and increase rents to not only cover maintenance CAPEX but also some discretionary CAPEX and attract those that would appreciate the improved amenities and grounds. Typically those that appreciate their home will treat it nice as well.
