What is the difference between a rental community and condos?
An apartment rental community corresponds to a group of properties where the owner is a single owner and rents the units through a management company, which can be their own or a third party.
A condominium also corresponds to a group of properties, but for each of them, there is an owner. A single person or corporation can, of course, own several properties. They select a condominium board and a management board among all the owners.
This board of directors, in turn, has a series of requirements to accept future tenants; these are usually the same as those that the owner asks when renting.
How long are the contracts?
Leases are usually for twelve months, there are also month-to-month or six-month contracts, but they increase the monthly rent value.
Investors like to have a contract that guarantees an income for a long period, so the longer the contract, the cheaper the rent can be.
What you need to know before selling your house:
It is essential to be clear about the reasons and reasons for moving, how much money you expect to receive and how much you need to pay the mortgage or acquire a new property, and how long the whole process will take.
A common mistake that sellers make is estimating the property’s sale value based on the prices that neighbors are asking for on those properties that have not yet been sold. The real estate consultant you choose must be able to supply comparables based on properties that successfully sold in the last 3 to 6 months.
Before listing your home, make important decisions and take appropriate action to increase opportunities to sell the property quickly and at the best price.
If you plan to buy another home and have the money from the sale of your current property, include a clause in the contract. It is important to specify in the contract that the purchase of the property depends on the sale of your current property. If you can’t sell your home by chance, you won’t be obliged to buy the other one.
Make sure you qualify for financing if you’re buying another property.
Be aggressive in the sale price. Don’t waste your time offering a much higher price than the market can afford. The only thing you can do with this is to help your neighbor sell his own fast!
If you’re working with a real estate agent, make sure you understand and agree to the compensation plan.
Have a list of items you want to sell and a list of items you don’t want to sell. There are two reasons to make this list. First of all, the buyer can assume that items are included in the sale, such as curtains, lamps, or fixed furniture. To avoid complications that could delay the sale, specify what is excluded and included in the sale. Second, the buyer may be willing to buy items from your homes, such as paintings or furniture. You will make a more objective decision about what you want to keep and the value of the goods if you think about it before being pressured by the sale of the property.
Following these simple recommendations, the buying and selling process will be much easier without setbacks for both parties.