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LIR: ST Poll: When you think 'condo' do you think about the business of the condominium association?

Posted by OAE (aka KiwiPrincess) Apr 5 '10, 11:27

How it's run? What's in the Minutes? What is the financial health? What's in the CC&Rs? The By-laws?

Or is it just the lure of the private area that you own and you don't think about the common areas and how the property is managed?

Responses:

The first things I think are "rules" and "assessments". -- nm - loosilu Apr 5, 11:40
I think "Neighbors who share a wall (or two or three)." -- nm - JaxSean Apr 5, 11:39
Here at least, co-ops are much more prevalent than condos. - znufrii Apr 5, 11:32 7
- Understood. And do you want to know about the management of the property... - OAE Apr 5, 11:34 6
  - it comes with the territory, most co-ops require board approval for new tenants. - znufrii Apr 5, 11:35 5
    - co-op boards are notoriously evil. -- nm - loosilu Apr 5, 11:39 2
      - mine weren't evil, they were just impotent. -- nm - Reagen Apr 5, 11:40 1
        
        I've only heard about NYC ones. :) -- nm - loosilu Apr 5, 11:41
    - So more co-op owners are involved in managing the building? - OAE Apr 5, 11:37 1
      - I wouldn't be able to comment on the actual participation rate, - znufrii Apr 5, 11:39
I think "less maintenance!" -- nm - Dr.Vermin Apr 5, 11:30 10
- you get that with apartments too, and cheaper. -- nm - loosilu Apr 5, 11:40
- more rules. Including not being able to modify the exterior :) -- nm - Beryllium Apr 5, 11:32 8
  - I haven't gotten around to painting my house yet. I have, however, had to mow the lawn several dozen times. -- nm - Dr.Vermin Apr 5, 11:35 7
    - you can pay someone to do that, just like in a condo. -- nm - loosilu Apr 5, 11:42 6
      - but in a condo, everyone shares the cost ... hmm. tough call. - Beryllium Apr 5, 11:44 5
        
        around here monthly fees are $300+ -- nm - loosilu Apr 5, 11:46 3
        
        yep ... ours our slightly above average. More than slightly, compared to the other services some places have. - Beryllium Apr 5, 11:51 2
        
        Do you know what your assessments cover? -- nm - OAE Apr 5, 11:57 1
        
        Yes, I'm the president of the strata council. -- nm - Beryllium Apr 5, 11:59
        
        The below mentioned unit pays over 10k a year. -- nm - Spawn Apr 5, 11:45
Yes. Also, ditto for Townhouse. -- nm - Beryllium Apr 5, 11:28 1
- (And here it's usually called a Strata Corporation, iirc) -- nm - Beryllium Apr 5, 11:29
I think... "Couldn't afford a full size home" -- nm - Will Hunting Apr 5, 11:28 4
- We have single family homes (the largest is 6,131 sq ft) in one of our HOAs. -- nm - Kick Ass Apr 5, 11:34 3
  - Here, condo is a purchased apartment; a townhouse is it's own vertical unit; and a house is a single-family. - Will Hunting Apr 5, 11:36 2
    - I've lived in two condos - one was an apartment, the other was a 1200 sq ft attached townhouse. -- nm - Reagen Apr 5, 11:37 1
      - Yeah, that 2nd one wouldn't be a condo in my understanding of the word. I own a 1200ft townhouse now. - Will Hunting Apr 5, 11:39
I DQ myself since it is what I do for a living. -- nm - Kick Ass Apr 5, 11:27 7
- Are you a property manager for a condominium/ strata corp? -- nm - OAE Apr 5, 11:31 6
  - he runs a property management company, which handles a portfolio of condo associations, IIRC -- nm - Beryllium Apr 5, 11:32
  - Five of them. -- nm - Kick Ass Apr 5, 11:32 4
    - Understood. - OAE Apr 5, 11:33 3
      - Knowing what I know? - Kick Ass Apr 5, 11:35 2
        
        Yes, well, best friends never let best friends buy condominiums... - OAE Apr 5, 11:36 1
        
        Nice. -- nm - Kick Ass Apr 5, 11:48

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LIR: ST Poll: When you think 'condo' do you think about the business of the condominium association?

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