Condo Living 101

Desirable Condominium Attributes

January 10, 2010 on 2:47 am | In Advantges/Disadvantges | No Comments

What to look for: Desirable Condominium attributes

• High owner-occupancy rate (minimum of 51%)
• Stable monthly condominium fee
• Sufficient capital reserves (as evidenced in 5 year capital improvement plan)
• Strong, professional condominium management team (both on-site and parent company)
• Active, involved condominium Board of Directors
• Well maintained common areas
• Association rules regarding occupancy, parking, pets, etc.
• Independent utility meters? Pros and Cons:

1. Pro—you only pay for the utilities you actually use

Source: my10101.com
2. Con—utilities not included in monthly condominium fee. Larger condominium
complexes may be able to buy energy at lower costs.