QUESTION: Rltr. John, I am offering my condo unit for rent. I am confused on my asking price. Should the asking price include the condo homeowners association fees? ANSWER: The condo homeowners association is not part of the rent and should not be part of the asking price when you offer the unit for rent. The tenant, mandatory, pays it separately from the rent. The association fee is a payment for the tenant to enjoy the security, amenities, and janitorial services of the environment of the unit. Let me say it in simple logic. Only your unit is for rent. You cannot rent out the common areas. You cannot make money in renting out the common areas. So, that's why assoc fees are not part of the asking rent. Okay?
If there is anything else important that I forgot to include in this article, or if you experienced a real estate transaction that is anomalous, scam, fraudulent scheme that you want me to document and expose for others to be warned, or if you want to donate to the war chest of real estate consumer rights advocacy, please feel free to email me at JohnPetalcorin@Gmail.Com. If you want to comment about this article, there is a provision for this purpose that you can find below.
Thank you so much for visiting my site. May God Bless You!
No comments:
Post a Comment