The topic of HOA’s is a very opinionated one. People seem to either love them or hate them. Here are some pros and cons to consider before purchasing, renting, and/or investing in a property in an HOA.
PROS:
Amenities
pools, gyms, a community clubhouse, or landscaping can be ideal for convenience and may be cheaper than paying for these services individually
The neighborhood will look good
HOA typically maintains common areas and community areas and has rules about keeping lawns manicured restrictions on parking boats and other large vehicles on the street, and limitations on exterior paint colors.
Deals w/ neighbors for you
If you hate having to confront neighbors, whether it's for being...
1. Flexibility for people short on cash for a certain month
Life happens and sometimes costs come up throughout the month that cannot be pushed off. If you find yourself short on rent, using a credit card to hold you over until your next paycheck can be a great option.
2. Cheaper than Late Fees
If you plan it out right, using the right card, or paying the balance quickly, using a credit card can end up being cheaper than late fees. PLUS, it doesn’t affect your rental history and payment history
3. Can help build credit score
Utilizing your credit card correctly can easily help boost your credit score.
4. Potential to earn rewards with credit card company
Make sure the property looks the best, both inside and out. Take flattering photos, make sure landscape is cleaned up and maintained, and exterior paint is clean and fresh.
Update appliances
Look to keep appliances matching and in good condition. Be sure they are installed and vented properly and maintained.
Keep up on maintenance and repairs
Regular maintenance is important as it keeps down on big issues and surprised down the road.
Add value
New interior/exterior paint, new flooring, updated kitchens and bathrooms, energy-efficient appliances, etc.
Keep competitive with the market
Know the current market and market values and stay competitive. Know how aggressive you are w...
Managing your own property investment may seem like a good idea, but there is a lot more to it than people realize. Here are some top reasons why hiring a property manager is beneficial.
Finding Tenants and Getting the Right Tenants
Although there are always tenants looking for rentals, finding the right ones can be difficult. Making sure you market in the right places, is not only time-consuming but can be expensive. Property managers are already set up for this so can easily market on several platforms as well as screen tenants.
Getting the most income out of your rental income
While you can do research and easily get a ballpark of what your home could rent for, property managers are equipp...
