Read This Before Subletting Your Condo

So, you are thinking of subletting your condo. However, you are not yet sure yet if it’s the right thing to do.

Subletting your condo may be a simple idea, but there are a few things that you need to know. Otherwise, you could end up with more problems with little upside. When it comes to condo subletting, your best defense is information; and that’s what this article is all about.

Condo Subletting – What Is It?

Let’s start with the very basics. The idea of condo subletting is that you are leasing a condo, and then you want another party to rent your condo that you leased from the landlord.

So in simple terms, condo subletting goes something like this – the renter pays you, then you pay the condo landlord.

The idea of subletting a condo might sound silly to some. Why not just give up the leased condo and avoid all the hassle? Well, there could be a number of reasons for condo subletting.

For example, leasing a condo means that you will need to rent it for a certain amount of time. If you default on the lease, you might have to pay expensive fees.

Another common reason for condo subletting is when you are planning to temporarily move to a different location, and you will be back living in your leased condo in the future. Hence, you might as well let somebody else stay at the place and help you with the rent.

Condo Subletting – What Are The Requirements?

When it comes to condo subletting, there is just one requirement. You simply need the consent from the landlord. That is usually true in most cases. However, you can check the local laws in your area just to be sure.

If any case the owner does know about the condo subletting, he or she may have the right to evict the party staying in the condo unit or cancel your lease.

Condo Subletting – What You Need To Know

Depending on your location, it may be possible to go the Landlord And Tenant Board or any similar associations in your area if you have problems getting that consent. You can then ask them to enforce the landlord to grant you permission for subletting the condo. Most associations would typically side with the tenant’s request if the landlord is being unreasonable.

Keep in mind that in most cases, condo subletting has a limit on how much you can charge the renter. Usually, you are not allowed to charge the renter higher than what you are paying the landlord.

In cases that the landlord discovers that you are subletting your condo to a different party and you didn’t ask for consent, the landlord has only 60 days to report to the proper associations or authorities with regards to fees or canceling of your lease. Once the 60 days has passed and the landlord does nothing, then the landlord must accept the new renter as a tenant.

Last Thoughts

There are plenty of reasons why subletting your condo may be the option for you. However, make sure you know what you are getting into before finalizing anything. If you think that condo subletting is the best option for you, then make sure that you ask a written consent from the landlord to avoid problems down the road. If the landlord is being unreasonable, then you can report to the proper associations and authorities to enforce the consent or cancel your lease.


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Should I Buy Or Rent My Home?

First time buyers, couples or young families often consider buying a new property a no-brainer, as long as they can come up with the capital for a deposit. But since the economic crash, house prices have fallen and, although rising, are unpredictable. Nobody can really afford to buy a property with the chance of it decreasing in value but who wants to flush their money away on rent when they could be making an investment.

There are many benefits to renting, maintenance and upkeep are not your responsibility in any way. Most contracts are only around 12 months so after that, you can up roots and move on if you wish. There are certain legislations in place to protect you and you have no chance of falling into negative equity.

Although there are some rare try-before-you-buy schemes, rent is dead money; you pay it and never see it again. Many renters are naive and end up spending so much in rent that they cannot afford to save for a deposit to actually buy a house. You could get stuck with a cheap landlord who refuses to spend any money on maintenance and needs constant chasing; you should make sure you have a decent landlord who is registered and will put your deposit in the right place as stated by law.

Should you find yourself with the spare cash for a deposit, paying for a mortgage will be paying money into something that should ultimately hold its value if not increase your investment allowing you to purchase a more expensive property. You can avoid any of the problems associated with a landlord and can ultimately do whatever you want in your own pad, your house, your rules.

Buying a property doesn’t just involve the price of the house itself, there are plenty of other costs involved such as setting up a mortgage; solicitor’s fees, surveyors etc, this greatly increases if the property requires any work. Choosing a mortgage is difficult as you will need to find the right one for you, interest rates can vary and some banks and lenders offer more than others. You will be responsible for the property both aesthetically and legally.This rent to own process can then become a major way for a lot of people to be able to own their own houses. Is it amazing the things you find out on the Internet huh? But how do you find someone to do this rent to own home search for you? Are there services? Yes. But you might have to pay a lot for them. Are there people like agents?
Yes. But again this might cost a pretty penny as well. How about ebooks that are written developed and designed by people that have tons of knowledge about this kind of stuff?

Yes! This is exactly what you want. Today, I found an ebook online that is specifically written for people like you that want to learn how to get into something like this, and how to rent to own your own home. It’s very possible and very easy to understand.

Essentially the question comes down to two things; do you have the equity to buy a property? And are you willing to take a risk with an investment? If you do then go and buy, if not then look for a cheap rental while you save up.



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6 Important Things That You Should Watch Out For In Condo Associations

Are you planning to buy a condo in a group of people with an association? Well, if so there a number of things that you need to look for. Probably you require a condo that has beautiful finishes. It is wise to examine them. It is also important to check out the bedroom sizes. Apart from that, it is paramount to study the details of the association.
The information that you gather will help you know whether it is the right association you can purchase a condo.
Below is what to look for in condo associations;
1. Watch out for Mismanagement
Take into consideration the management of the building. For instance, the association may not pay attention to the repairs and common maintenance. Just do a thorough survey by asking the residents how they can rate the gratification of development and management.
Here you will be able to identify whether the condo association is the best or not.
2. Check out the rules and regulations You may find it difficult to comply with some rules and regulations in a condo. The best thing is to know some of the rules that you cannot abide by. Don’t let rules to interfere with your temperament.
Learn the about the rules of the association and know the consequences of violating them. If the rules are restraining, you can decide on buying a condo elsewhere.
3. Be Acquainted With The Firm
You should review the minutes of the previous meetings and know about the policies. Be able to gain knowledge of the procedures of making a rule or changing them. You should also figure out how the approaching expenditures of the association will be covered.
Ensure that you are on familiar terms with the duration the firm has serviced the development.
Find out which hours you are supposed to use the amenities such as pools. Know whether the recreational facilities available will be paid for daily or you will pay in the overall fees.

4. Know the fees required
Before purchasing a condo, it is important to know the exact fees to pay to homeowner’s association. It is obvious that fees differ from one association to another. Look for that company that offers the buildings in the prices that are affordable.
Find out whether there are extra amount required to pay for pickup of the garbage.

5. What about the environment
First of all, it is important to assess the environment before purchasing a condo living. You should ensure that the environment is friendly. If some of the activities carried out within the condo area are polluting the environment, you should consider another place.
6. Watch out for building insurance
It is good to insure a building in case of anticipated disasters. If you think about purchasing a condo, it is important to know whether it have insurance. Having considered this, you will be protected from upcoming disasters. Now that you have an idea on what to look for or watch out for in condo associations, you will have the confidence when buying. You will be more cautious and this makes you live in a condo that is best for you. So take into consideration the above mentioned important information.



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Condos for All Lifestyles and Life Stages

What makes condo living so appropriate for every lifestyle and all ages? The answer is the simplicity of ownership and its many benefits. Many people have a busy life that involves long hours working at a demanding career, and they don’t have the time to spend on exterior maintenance including landscaping and seasonal tasks. For many people, owning a residence is a great plan, and they can benefit from property appreciation and career growth when they own a condo.

Having more time to spend with the family is also important because developing strong family ties is just as important as developing a strong and rewarding employment future. Having more time to nurture children and spousal relationships will yield results that could never be imagined. Many condos are located near parks and trails which offer the family more opportunities to enjoy time together than would be found in a backyard. Condo living is often made attractive by the availability of nearby activities which cost little or nothing to enjoy. Condos that are developed for families offer children the chance to meet children that they would not be able to in a sprawling residential neighborhood.

Condo living also offers benefits to people who do not have children. People who like to live an active lifestyle including traveling can enjoy all of these activities without having to worry about their property. The freedom to travel and enjoy long weekend trips is easier with condo living. Whether for pleasure or employment, travel is much easier when there are no concerns about the property when newspapers pile up at the front door.

Of course, retired people can enjoy condo life for all of these reasons, and there is one more important reason to retire to a condo. That is the upkeep is no longer a task that is physically and financially taxing. Home ownership can be costly when repairs brought about by aging must be made. Condo living doesn’t require the physical effort which retirees often find to be a problem.

Many condos have amenities which are great for the owners of all ages and their families to use. Exercise facilities are onsite which means that they are easy to access. Meeting rooms are often available for resident entertaining, and outdoor recreation areas such as pools and saunas are available. These are all wonderful opportunities to expand the enjoyment of condo life.

Perhaps one important and often overlooked feature is the condo owners association which is created and operated by the condo unit owners for the professional administration of the condos. The owners of the condos elect a board of directors whose job it is to provide for the maintenance of the common areas and make repairs to the roof, parking facility and the recreation facilities. The board of directors can hire a professional condo management company to do this work and to collect the monthly fees, or they can hire and manage staff to do the work internally. Its important to recognize that the board of directors handles all of the tasks which alleviate the burdens associated with single residence ownership.

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Why Choose a Condo (vs a House)


When planning to buy a property, you might find yourself in a dilemma in choosing between a condo and a house. But here are some of the good reasons why you should consider a condo compared to a house.

1. Luxury and Comfort

When it comes to comfort and luxury, condos have a number one position as they offer great building features as well as first class amenities. These amenities include swimming pools, fitness rooms, sky lounges and much more. Condominiums have the upper hand advantage because one doesn’t have to make long travels to the city, tend lawns or gardens or even make repairs.

2. Accessibility and Proximity

Condo acquisition is one of the latest trends when it comes to home-owning. Condominiums are more accessible to the city. The strategic position of condos provide easy access to commercial establishments such as malls, or schools or even hospitals, and this provides a stress and hassle free life.

3. Best Investment

When compared to houses, condos in the city gain their values with time, this is because in the future as an owner of the condo you can either rent or resell it and by this you do not have to worry about equities.

The condo is more of investment while a house is more of an occupancy, this is because condos are much less expensive. As an investment, condos save you future stresses since you have an assurance that your investment will prosper.

4. Preference

Long daily travels are stressful especially for city workers and these travels also reduce productivity. Those who live far from the city are limited to working overtime even if they want to. For its best to choose a condo over a house. Due to the proximity to the city, you won’t be needing to make long travels which can be difficult as well as dangerous.

5. Fast Reselling Features

When compared to houses, condos have quick selling features. For instance, if you own a condo, and you want to resell it in the future, its features, proximity, amenities and lesser cost give the high condo chances of fast selling when compared to a house.

One of the important features that makes a condo sell fast is the location. Condos are located a few clicks from prime city hubs while most houses are located far from cities or business centres and hence reduce accessibility.

6. Maintenance

This is another area why you should consider a condo over a house especially if you are an old buyer who no longer feel up to keeping landscape or yard. When you own house, you are responsible for all its upkeep including all the internal maintenance and some of the external maintenance. But when you own house, you do not have to worry of any of these. All you have to do is to pay fees to an association that ensures that all these issues are addressed even including tending yards and mowing lawns.

With the above reasons, you are therefore able to make informed decisions as to why you should go for a condo rather than a house.

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