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Updated about 8 years ago on . Most recent reply

William S.'s profile image
William S.'s profile image
William S.
  • Rental Property Investor
  • from Overland Park, KS
  • Member since Aug 18, 2015
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492
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William S.'s profile image
William S.'s profile image
William S.
  • Rental Property Investor
  • from Overland Park, KS
  • Member since Aug 18, 2015
Connect
William S.
  • Rental Property Investor
  • Overland Park, KS
234
Votes |
492
Posts
Multi-Family and Apartment Investing

HOA doesn't cover CapEx?

William S.
  • Rental Property Investor
  • Overland Park, KS
Posted

I came across a condo that has an HOA of $90/m in Milwaukee. The $90 covers lawn, snow removal, water. There is no budget/reserve money for CapEx. Each resident has their own water heater and HVAC that they are responsible. However, they said if the roof needs replacing the cost would be spread across the complex. This is not a luxury condo complex by any means. What if the other residents "can't pay" for the expense?

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