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Is it wise to buy a condo to rent out?
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[QUOTE="Caramelle, post: 203299, member: 150"] [JUSTIFY]Those parking spaces usually do not form part of the unit rental. Potential renters would have to pay extra for those expensive parking spaces. Thus, the unit owner who does not have them can still arrange for parking with other owners or with the condominium association. It's not a logical reason to give up on the business. However, It's not just the concern for the parking space that should be considered when leasing out a condo unit. Besides the monthly unit rental, the renter will usually pay for the monthly condominium associations fee which is almost half the rental price. This is probably worth it if the condominium is located in the big city which is very near the renter's place of work. In which case, the renter will likely share the rental unit with a co-worker or a friend to save on transportation and accommodation costs. [/JUSTIFY] [/QUOTE]
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