I'm buying a condo with a great property management association, which should free me from a lot of the maintenance responsibilities of owning and renting out a single-family home. Is it true that the maintenance and repair of condos are easier to handle than other investment properties?
Assuming you've run the numbers and the condo provides a good return on investment or "cap rate," you may have a good deal.
But there's a lot more to buying and renting out a condo than assessing the management responsibilities for maintenance and repairs.
While a condo, particularly a detached property located in a newly developed cul-de-sac, may look like a low-maintenance opportunity for your money, you should take a careful look before investing.
Here are five extra things you'll have to manage with a condo that you wouldn't have to with a single family home: