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Originally Posted by ICDEDPPL
(Post 4885773)
I had an offer to rent for a few months at $1500/month (I`m asking $2000)
I`m not sure a multi month renter is worth it .. who knows what the place might look like in a 4 months vs. short term rental and regular cleanings. |
I would entrain the idea of a long term till may At a monthly rate
https://www.vrbo.com/3756707?dateless=true |
We closed on the second condo at the end of January.
Heading down tomorrow with a truck full of tools and will be gutting it to the drywall. |
Another special assesment coming ... this time not for the roof but insurance.
Last year it was $89k for insurance . This year $416k What in the actual F |
How many units at Emerald Bay?? 89k seems cheap. Ours was around 75k for 230 units, but 90% are only 420sq ft. We had to spend about 30k of rooftop fire block walls and eliminate all gas ands open flame grills to get our ins co to continue coverage. Ins has been out of control and I have seen other info on FB about premiums tripling and getting hit with special assesments
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Insurance rates appear to be doubling/tripling for ALL condos from what I have heard. Worst part is, look at how the deductible works. My understanding is they base it on the whole project not individual buildings, and it is +/- 5% so.... unless you have a catastrophic loss, they will never have to pay out on the insurance policy. Just another way of "Bidens America" hidden in the fine print!
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Griff was right , one special assesment after another sinice I bought this place. I get bent over , no lube.
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Originally Posted by ICDEDPPL
(Post 4891034)
Another special assesment coming ... this time not for the roof but insurance.
Last year it was $89k for insurance . This year $416k What in the actual F
Originally Posted by ICDEDPPL
(Post 4891255)
Griff was right , one special assesment after another sinice I bought this place. I get bent over , no lube.
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Originally Posted by bajaholic
(Post 4884010)
One has to look at the HOA annual minutes and accts prior to purchasing. It is call due diligence. There are MANY associations that are ran well, and unfortunately a number that are not.
I would like to see what your friend really had to deal with, my guess being called new was subjective rather than actual. Granted bad lumber will rot faster, If they didn't maintain anything that too will always lead to issues at a faster pace. but it still would take a number of years before it is an issue. Now all that being said.... There was a complex that had REAL legal issues due to decks being under engineered and it took a number of law suits to get those resolved but EVERYONE knew about it if they did just a single google search. Again..... Make sure you look at the HOA history (I always recommend at least last 3 years) prior to purchasing, and then once you own there show up for the meetings at the VERY least the annual meeting when all the big items are voted on and there will not be any surprises. Most of these condos have $400+ HOA/month....I can buy a lot of exterior maintenance for less than $4800/year! |
More fun news.
Guests can`t use the slip, only owners are allowed on the docks. I have friends that rent in the complex and they say only one or 2 people/year ask about a slip . I thought it would be much higher . Owners at the ledges are always renting slips .. maybe it`s the location. Hopefully there isnt some Karen around that has nothing better to do but watch who comes and goes because I don`t plan on following that rule. My friends that will use it have boats .. maybe a house would have been a better choice but at my budget it would be a dump and Ive rehabbed too many , I`m over that, plus doing outside maintenance when I visit is not something I want to do . My dad had a place up in the UP and he spent most of the weekend working on the place rather than enjoying it. |
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