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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]The problem with condos is you are not just on the hook for your own property but for everything that is commonly owned matter how poorly it has been maintained before you bought, and it's really hard to get everyone to pay their assessments so you're dealing with certain freeloaders.[/quote]

You have to join board. I am treasurer and insurance, mgt fees, legal fees, accounting fees, landscaping, gutter, snow, contracts have to be managed as well as have no tolerance for arrears. Also stay up on maint of building.

I joined  board and more work than a house. A badly run condo is a headache.

My condo common charges are low enough no one complains. But a lot of luck. My building was literally falling down in 2009 from years of neglect and between 2013 - 2018 redid whole place top to bottom. I say luck as in 2021 constructions costs through the roof. It would cost double almost.

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wow condos sound really great[/quote]
That's why there are plenty on the market.[/quote]

They do suck. I literally bought condo board was thieves. A few very very old ladies in charge who were more concerned about flowers, snow removal, gossip, tour stuff and 20 percent of building not paying common charges and we had a net of negative 200k in bank due to a loan.

I sued everyone not paying. Put Liens on properties and towed cars out of lot. My favorite we slapped liens on one persons furniture, we even went after tenants cars and such. Everyone paid up or sold.

What a hot mess.  But building is now great. Sadly I am the bad guy. People pay as they know “I quote” will kick them down the steps and crush their necks of late. Running gag. It is as shocking. Was a learning experience. I spent t maybe 1,000 hours on it.

Like I said never again. But I learned a lot.

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