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Finding the Perfect Multifamily Property

American Apartment Owners Association

Multifamily refers to properties, such as apartment complexes, condominiums, townhouses, semi-detached units and duplexes, all of which offer multiple spaces for rent. Operating costs can consist of property taxes, real estate agent fees, utilities, maintenance, property management fees, homeowners insurance and legal fees.

Property 200
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Reserve study requirements by state

Condo Control

Motivated by the Surfside condo collapse, lawmakers don’t ever want to see another community in the same position as the Miami condominium ended up in. Condominium disclosure statements must include the current balance in reserves, and the most recent reserve study, states Section 81-409.

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Finding the Perfect Multifamily Property

American Apartment Owners Association

Multifamily refers to properties, such as apartment complexes, condominiums, townhouses, semi-detached units and duplexes, all of which offer multiple spaces for rent. Operating costs can consist of property taxes, real estate agent fees, utilities, maintenance, property management fees, homeowners insurance and legal fees.

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1031 Exchange in Multifamily Real Estate

American Apartment Owners Association

swapping a property owned by an LLC with one owned by an individual) These pitfalls can be avoided by working with a team of experienced professionals, including real estate attorneys, tax advisors, and qualified intermediaries. Final Thoughts: Is a 1031 Exchange Right for You?

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Addressing the Ongoing Issue of Aging Infrastructure in HOAs

Property Management Inc.

This is why we often stress the importance of regular maintenance because issues only grow more costly when they’re not caught and taken care of early on. ” This result is a reminder of how important preventative maintenance and comprehensive reserve studies are to an HOA’s success.

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HOA Electric Car Charging Policy: Why Have One?

Mem Property Management

As always, it is best for HOA boards to seek help from an attorney or their HOA management company when interpreting their rights, powers, and obligations. There is also the question of maintenance and who should pay for them. One option is to include the maintenance costs in the computation of HOA dues.

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Alabama HOA Laws: A Guide to Homeowners’ Rights and HOA Powers

HOA Managememt

Alabama Uniform Condominium Act (1991) Applies to condominiums created on or after January 1, 1991. The states Uniform Condominium Act outlines development procedures, unit owner rights, and association responsibilities. It also regulates budgeting, insurance, maintenance obligations, and voting rights.