2007-03-09 04:07:08 · 5 answers · asked by Greatone76 1 in Business & Finance ➔ Renting & Real Estate
It depends on the agreement you make with your tenant. But it is easier if you pay the assessments and simply include it in the rent. See, if the renter is late with the assessment payment, the association will still hold you responsible and may assess late fees and penalties etc. So, it is to your best interest to control your relationship with the association.
Having said all that, you need to take a look at other for rent ads in your building/complex, as how others are doing it.
Because if everyone advertises Rent as $600/month + assessment, and your add will say $900/month, it will look as more expensive, although it is not. But 99.99% of the time you charge flat rent and take care of assessment yourself.
2007-03-09 04:16:23 · answer #1 · answered by Alexander K 3 · 0⤊ 0⤋
You can set your lease any way you want. Hopefully, you are able to charge enough rent to cover your financing, taxes, and association dues as well.
However, regardless of how much you are getting, you should ALWAYS make the renter pay you the full amount, and YOU send the checks to your mortgage company and HOA directly. How else will you know if he's sending the 2nd check to the HOA?
2007-03-09 13:23:24 · answer #2 · answered by Yanswersmonitorsarenazis 5 · 0⤊ 0⤋
The owner pays the assessment. Consider the cost of the assessment in setting the rent, however.
2007-03-09 12:12:58 · answer #3 · answered by Latigo 3 · 0⤊ 0⤋
If you're referring to property taxes - you pay. If you mean condo dues, that can be included in the rent OR stated in your listing (and then the lease) that they are responsible for it and the amount.
2007-03-09 12:17:28 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Owner does. Otherwise he might end up with liens on his property that he knows nothing about untill it's a problem.
2007-03-09 12:11:08 · answer #5 · answered by wizjp 7 · 1⤊ 0⤋