Here are my updates for February 5th, 2013
Questions About Condo Associations and Rental Properties:
Q: I own a townhouse that I rent out. The rules of the association make owners responsible for damage that is done by themselves, guests or renters. Our renter had a guest who was involved in a robbery attempt at the complex; he damaged a sign and light pole, but he escaped and the police haven’t been able to find him or the owner of the car he was driving. Now the association is trying to get me to cover the repair costs. Can the association do this? —
Q: We lost our rental property in a fire, and have been dealing with our insurance company over the proceeds from our policy. I don’t think the amount is going to cover the cost to rebuild, but that’s the coverage that I thought I had (at least, that’s what I had years ago). Is there anything I can do about it?
Click here for answers by Jane Portman, Inman News.
Senior Director, Coldwell Banker New Homes Division
With over 200 condominium, townhome and loft projects successfully marketed
“Fewer properties for sale with such remarkably low interest rates make it a great time to sell but a more difficult time to buy”