The real estate industry is growing as more people become property owners and decide to rent out their property. Rental property can be a very lucrative business but can also be a burdensome task to manage. A person’s time commitment strategy and desire or need for software to help manage rental properties will be affected by such things as the number of properties and whether a person has a day job or is just renting on the side.
Starting a homeowners association (HOA) is an excellent way to keep property values high in the neighborhood by establishing formal standards for the community. Owners of homes in a subdivision, condominium complex or apartment building can guarantee a certain degree of order among the residents through an agreed upon set of covenants, codes and restrictions. Issues including lawn care, gardens, children’s outdoor play sets, swimming pools, garbage collection, parking lot maintenance, snow removal, fences and noise levels can be addressed by the formation of a homeowners association.
Many prospective first-time or single home buyers are in the market to buy a condo or townhouse. Condos can be an ideal purchase as they can offer a low buying price and do not require outside maintenance. A condo association will typically manage outdoor building maintenance, community by-laws and, landscaping.
Monthly Condo Association Fees are paid to the condo association to cover these services.