Hi Everyone!
I read through all the options about rental units at Oak Park Place Condos. I know this has been a source of contention for while now. I have rented out my unit over the past 3 years. I bought in 2006. Honestly, I never wanted to be a landlord, but I bought at the peak of the housing bubble. Twelve years later, I still have not recuperated the cost of my condo. Instead of walking away, I chose to rent out the unit. I even had it appraised again this summer with the hopes of maybe putting it on the market, but it still is not anywhere near what I paid for it. I was shown specks for the area, and the last 3 places to sell in our building seem to be foreclosures or shortsales which I think have brought the property value down. I don't want to speak for others, but I feel that a lot of people who are renting are in my situation. My goal is just to rent it out until I can at least get what I owe. There have been a lot of news rules put in place to keep everyone safe and increase our assessment revenue from renter's. I think this is all very good. And I agree with wanting to keep it in a "condo" building status. I definitely don't agree with the "no renter's solution". Maybe renter's could pay a little higher assessment or a one time yearly fee to rent out there place to help offset the higher insurance premiums. I think doing away with the ability to rent out the units would put a lot of economic hardship on many people, leading to more foreclosures, and further reduction of the property value. Thanks for listening to the other side. Melissa Semp
Wait while more posts are being loaded