: The condo association (COA) handled all exterior maintenance , including the roof and landscaping, which made managing from afar easier than a single-family home. The Reality: Rising Costs and Rules
Once she owned the unit, Sarah encountered several "hidden" financial realities: buying a condo in florida and renting it out
: Sarah had to budget for unexpected special assessments —one-time fees for major repairs like balcony restoration—which can range from $20k to $80k in older buildings. : The condo association (COA) handled all exterior
: She opted to pay cash to avoid high interest rates and simplify financing, as lenders often require 20% down or more for "unwarrantable" condos (buildings with high rental activity). including the roof and landscaping
Sarah looked for an "investor-friendly" building that allowed . She found that many Florida condos have strict rules, such as minimum 30-day stays or even waiting lists before a new owner can rent their unit at all.