Back to: Landlord Success: Proven Strategies & Practical Advice for Stress – Free Property Management
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When you own a Condominium, the condominium (condo) Corporation will be charging you a monthly Condo fee, that may include items such as Exterior Maintenance, Landscaping, Snow removal, Insurance for the common areas, Management fees, Utilities for common areas, and possible Utilities such as heat, cooling and electricity, water and sewer for your specific unit.
- Typically, the Landlord pays the condo fees, vary rarely have I seen a tenant pay these fees.
- These fees will increase your monthly expenses. Something to consider when purchasing a condo for a rental.
- If utilities are included in the fees, you can advertise the fact that the rent includes the specific utilities when renting the unit. Sometimes maybe heat may be included but electricity may be separately metered in the unit.