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Questions to Ask about Condominiums

If you're looking into condominium sales in hopes of moving into one, you're probably aware already that this is a potentially life-changing decision. It's an important next step for many who decide they no longer wish to rent an apartment or lease their housing. Before you buy that attractive waterfront condo for sale, there are some vital questions you need to ask before you sign the dotted line.

  • How much money is in the reserve fund?
    The reserve fund is the money kept available for repairs and maintenance. As a general rule, the older the building, the more money should be in the fund. If the fund gets too low, you may face rising monthly fees.

  • What regular fees are assessed?
    Condos usually collect a monthly fee, called an assessment, from each unit to help with general upkeep. These can vary substantially, so make sure they will not pose a burden on you. But low fees can also cause problems because a luxury waterfront condo can fall into disrepair if there are no funds to maintain it.

  • Is the condo association run by the owners or an outside management company?
    Many condominiums are managed by the unit owners themselves. Others hire outsiders experienced in real estate management. Self-managed condos often have relatively low monthly fees, but they can run into problems when neighbors can't agree on housing regulations. If the condo is run by a professional management company, you should check their credentials.

  • What restrictions are in place?
    Because you will be sharing common elements, such as pools and laundry rooms, you need to check the rules and regulations governing these. Like apartment buildings, you may face restrictions on parking privileges and pet ownership, among other things. You may not be allowed to rent or lease your unit to others when and how you wish.
  • Community Associations Institute
    The leader in providing education and resources to the volunteer homeowners who govern community associations and the professionals who support them. Get valuable resources by joining our association today!
    MAP
    Write review for this local business

    STANDARD LISTINGS:   CONDOMINIUMS-AND-TOWNHOUSES IN/NEAR PORTLAND
    Salmon Creek Condominium Assn
    1 review: *****
    13311 NW 11th Ave, Vancouver, WA 98685
    (360) 574-3989 Write review for this local business

    "The community is being very responsibly managed by a volunteer Board of Directors. ..."
    Condo Connection Write review for this local business
    4000 Ne 109th Avenue #235, Vancouver, WA 98682
    (360) 281-5061  
    Condos, Whatever your goals may be in Real Estate investing, we are here to help you. Condominiums
    Prairie View II
    1 review: *****
    12611 NE 99th St # OFC, Vancouver, WA 98682
    (360) 254-2194 Write review for this local business

    "If you like a quiet environment and can handle not much adult amenities the property is nice and the staff nice also and generally in my short time as a resident always helpful to make you at home with maintenance needs and the property is just getting done with a total makeover with new windows, counter tops, cupboards, interior and exterior paint and new updated appliances in units that need it. ..."
    The Strand Condominiums Write review for this local business
    1900 SW River Dr, Portland, OR 97201
    (503) 274-4113  
    Ladd Write review for this local business
    1300 SW Park Ave, Portland, OR 97201
    (503) 446-2028  
    University Park Condos Write review for this local business
    1500 SW Park Ave, Portland, OR 97201
    (503) 243-5558  
    Mosaic Portland Condominium LLC Write review for this local business
    1410 SW 11th Ave, Portland, OR 97201
    (503) 248-1783  
    Strand Condominiums Write review for this local business
    1930 SW River Dr, Portland, OR 97201
    (503) 227-8971  
    2393 Park Place Condos Write review for this local business
    2393 SW Park Pl, Portland, OR 97205
    (503) 525-1947  
    Park Vista Apts Write review for this local business
    2323 SW Park Pl, Portland, OR 97205
    (503) 223-2423  
    Legends Condominium Homeowners Assoc Write review for this local business
    1132 SW 19th Ave, Portland, OR 97205
    (503) 222-0907  
    The John Ross DoorKing Write review for this local business
    3601 SW River Pkwy, Portland, OR 97239
    (503) 206-7890  
    937 Group LLC Write review for this local business
    937 NW Glisan St Unit 833, Portland, OR 97209
    (503) 219-9998  
    Tanner Place Condominiums Write review for this local business
    1030 NW Johnson St, Portland, OR 97209
    (503) 226-1939  
    The Landing Condominium Write review for this local business
    5250 SW Landing Dr, Portland, OR 97239
    (503) 274-9884  
    Meriwether-East Write review for this local business
    0836 SW Curry St, Portland, OR 97239
    (503) 382-8083  
    Meriwether-West Write review for this local business
    3570 SW River Pkwy, Portland, OR 97239
    (503) 382-8084  
    Goose Hollow Condominiums Write review for this local business
    24 NW 1st Ave, Portland, OR 97209
    (503) 546-4001  
    Waterfront Pearl Write review for this local business
    1310 NW Naito Pkwy #112, Portland, OR 97209
    (503) 229-7600  
    Atwater Place Write review for this local business
    0841 SW Gaines St, Portland, OR 97239
    (503) 227-3976  
    Wickersham Condo Community Association Write review for this local business
    410 NW 18th Ave, Portland, OR 97209
    (503) 224-1279  
    Atwater Condos Concierge Write review for this local business
    0841 SW Gaines St, Portland, OR 97239
    (503) 432-8657  
    Lloyd Park Condominiums Write review for this local business
    1509 NE 10th Ave, Portland, OR 97232
    (503) 281-1586  
    Benson Tower Condos Write review for this local business
    2105 SE 9th Ave, Portland, OR 97214
    (503) 224-1173  

    Condominiums are a great alternative to renting an apartment or townhouse because you will be the sole owner of the condo. Condominiums are basically apartments for sale or sometimes lease to own. Condominiums can have multiple bedrooms, be in high rise buildings downtown, and often times come with laundry facilities either in the condo itself or on the property. Newer luxury or contemporary condominiums sometimes come fully furnished and almost all of them have full kitchens.

    Condos often offer 24 hour security services for their residence so people can feel safe while they are at home or on vacation. Real estate agents play a very important role in condos for sale which is often different from when people lease property. Real estate agents will put listings online, in papers, and sometimes even magazines that appear in hotel lobbies. New condos are also featured in home magazines to show kitchen or bedroom styles and can also be featured in architecture magazines to debut new high rise designs.

    People who want to sell, do inspections, or appraisals on condominiums often need to be licensed by the state or county they work in and sometimes you need a realtor's license to sell a condo depending on the state you live in. Inspections and appraisals are often required or at least highly encouraged when buying a condo.

    Condominiums offer individuals and consumers various options for living and investing. They are a good alternative to renting or leasing because a person will own the property instead of paying monthly rent payments.



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