THIS IS LESTER NIXON. MANY CALL ME THE COMMANDER!
I do feel NOW THERE WILL BE MORE DE-CONVERSIONS TO OR BACK TO APARTMENTS IN MANY OF THESE BUILDINGS. I feel more CONDOMINIUM developments WILL BE CONDOMINIUMS IN NAME ONLY AS MANY WILL HAVE THIRTY PERCENT OR HIGHER RENTAL RATES. I know MANY THAT ARE NOW KNOWN AS SUCH AND SUCH CONDOMINIUMS/APARTMENTS.Some of THE HIGH END ARE NOW CONDOMINIUM/HOTELS LIKE A FEW I CAN THINK OF IN DOWN TOWN CHICAGO.
Read enjoy and pass on if you like.Thanks for reading, subscribing, supporting me!
Regarding real estate. I have lived in a condominium for over 12 years. no i am not an old person, nor do i sit around all day, being negative ( as i see one of the authors here feels most condo owners and dwellers are!) even people in town homes an single family homes can do that. hey life is what you make it no matter where you choose to live.Most people choose to buy a condominium because they are more affordable than single family homes. some people do not want nor need a single family home, nor do they want to purchase rental property and be a land lord, for various reasons! Also the property taxes on many condos can be less expensive than those of a single family home.IF they are well managed and have an attentive , knowledgeable, caring board ( association ) they are wonderful places to live!i have found that there are many poor conversions ( apartment buildings converted to condominiums) and newer developments with many problems such as owners of new developments not willing or refusing to turn control of buildings and associations over to the condo associations, board members steeling from reserve accounts , laundry proceeds etc! ( a reserve account is a separate usually a bank account that the board of directors known s the condominium association, maintains for repair and up keep of the building and the common areas of the property) often monthly assessments are not paid by some or many owners in a complex, fines nor fees are not paid! their may be a high rate of renting in a building or a group of condo buildings! the main reason people ( mostly young people I find that can not afford the high cost of a single family home, nor the down payment, high property taxes, up keep , etc, of a single family homes a condo or town home it seems to me are the choices young, middle aged and older people are making these days!)RENTERS I FIND OFTEN HAVE LESS RESPECT AND CONCERN FOR THEIR OWN AND OTHER PEOPLE'S PROPERTY, CAN BE MORE ROWDY, HELL RAISING THAN OWNERS, DO DAMAGE TO A BUILDING, ILLEGALLY SUB LEASE A UNIT ( CHANGE THE LOCKS WITH OUT PERMISSION OR NOTIFICATION OF THE OWNER, LAND LORD!) SELL AND OR USE DRUGS OUT OF A UNIT, ETC! YES U REALIZE THERE ARE GOOD AND BAD OWNERS AND RENTERS, HOWEVER IT IS MY PERSONAL EXPERIENCE AS A 16 YEAR GOOD CONDO , AND FORMER 4 YEAR RENTER A GOOD ONE AT THAT, MANY RENTERS DO NOT CARE! THEY WILL TELL ANY ONE, ( I JUST RENT HERE! I DO NOT CARE WHAT GOES ON OR HAPPENS, ETC! I CAN UP AND LEAVE WHEN MY LEASE IS UP, OR WHEN EVER I WANT! SOME JUST ABSCOND! I AM A WITNESS TO IT!)
OFTEN THE LAWNS, GARDENS INTERIOR, EXTERIOR OF CONDOS ARE NOT WELL MAINTAINED( KNOWN ALSO THE COMMON AREAS.0OFTEN THERE IS POOR COMMUNICATION, BETWEEN , OWNERS, RENTERS, MANAGEMENT, BOARD MEMBERS! SECRETIVE BUILDINGS ARE NOT NICE PLACES TO LIVE! CRIME IN A COMPLEX UN CHECKED IS A NIGHTMARE!POORLY MAINTAINED UNITS, FIRES, LEAKS, ETC, UNREPORTED, UN DEALT WITH! I LIVE IN AN AREA WITH MANY HIGH RISE CONDOMINIUM BUILDINGS , THESE ARE JUST A FEW OF THE PROBLEMS MANY OF THESE BUILDINGS HAVE HAD! THERE ARE SOME GREAT BUILDINGS, PEOPLE, MANAGERS! OH YES. I HAVE FOUND GOOD MANAGEMENT OF A BUILDING IS A RARE THING! OFTEN MANAGERS ARE LOYAL TO THE BOARD AND NOT THE OWNERS! I ALSO FEEL THERE WILL SOON BE A GLUT OF CONDOS ON THE MARKET! IT CAN BE DIFFICULT TO SELL A CONDO, MORE SO THAN A SINGLE FAMILY HOME! SOME CAN BE GOOD INVESTMENTS. IN GENERAL, FOR THE REASONS I HAVE PREVIOUSLY MENTIONED AND MANY MORE I COULD I SAY CONDOMINIUMS ARE NOT THE BEST INVESTMENTS ONE CAN MAKE! IF ONE CAN NOT OR DOES NOT WANT A HOME OR AN APARTMENT BUILDING, BUT WANTS TO BE A HOME OWNER, THEY ARE A GOOD ALTERNATIVE. OFTEN THE ONLY ONE. LOOK AT RENTAL RATES IN MAJOR AREAS TODAY. I FEEL YOU ARE BETTER OFF TRYING TO BUT SOMETHING THAN COLLECT RENT RECEIPTS FOR HIGH RENTS!
