Be Careful when Investing in a Condo as a Rental Unit

TWL_2015_mar_blog12Condo rentals are on the rise in the Chicago area. Many believe that the lower prices of condominiums coupled with their expected rent revenue make them a sound investment. However, Ian Spula of Chicago Magazine cautions would-be landlords of potential pitfalls. “In recent years, some condo associations have imposed restrictions that make renting out units much tougher,” he warns. He recommends that if you want to make this sort of investment, that you purchase a condo in a building with at least 10 units that that you review the condo association bylaws carefully. A real estate attorney can help.

You can learn more by reading the full article here.

Image Source: John Beagle