ohmygod asked:
I live in a 6 unit condo block. We are self-managing and we charge a HOA fee. Do we have to do a tax return for the Condo Assoc income?
If so, what is deductible?
Changed asked:
I believe that my condo assessment cost are too high. I don’t know how to determine this without comparing the costs of other condo owners. Its easy enough to fix numbers in the budget to validate them, but how can one really tell if the costs are ligitimate?
J Rizzle asked:
I have a furnished condo in Scottsdale Arizona that is listed with a realtor on MLS but very little if any other marketing of the property is taking place. I am new to being a landlord and am looking for advice regarding how to go about marketing this property myself becasue I dont feel the realtor is doing enough to get the condo occupied by either a short term or long term renter.
jlong2325 asked:
I am looking to build a townhouses to rent but I am wondering what is the difference between a condo and townhouse. I have been in both. Condos are bigger.
becks10783 asked:
My husband and I are purchasing a Boston condo in a 4 unit trust. Ours is completely detached; and antique single family farmhouse that was incorporated into the condo association for some reason. It shares a driveway but otherwise I don’t see any obstacles in splitting from the association. We would like to be able to sell it as a single family when the time comes. Does anyone know how to do this, where to start, what the costs are? Thank you!
chandler163 asked:
I already have a house (that I live in) that I’ve been deducting mortage interest for the past five years. I’ve been told that I can deduct the condo mortgage interest on my taxes for a “second home”. I don’t know if milage is a factor in qualifing for a second home — the condo is only 3 miles from my house. My family/friends do not pay me rent when they stay in the condo. Having the condo has worked out very nice over the past six months because we get away from each other for 8-12hr/day when they are in town, but would even be better if I can fully deduct the mortgage interest from my taxes. Any suggestions on how to handle this situation on my taxes?
fleepflawp asked:
I’ve heard that condo prices fluctuate less than traditional real property values. I’m going to be looking for property in the near future, and was wondering–are condo prices experiencing the same drop that housing prices are? If not, does it make more sense to buy a house now because the values are comparatively better? Obviously, there are a lot of other factors I know I need to consider, but in general terms, how is the condo market now and does it generally follow the same trends as regular houses?
Steven C asked:
I own a Condo in Florida and I recently noticed some trashy people moving in. I then heard that they are starting to rent apartments out I think that these people do not have to pay an Homeowners Administration fee and think that this maybe illegal and was wondering if anyone had an insight in this. I think that this maybe illegal cause of the fact they no one is paying the fee.