Condo living questions:

[Courtney]

Hello, hello! Adam and I are seriously looking for a place of our very own, with an ideal move in date of May 1. We found a 1 bedroom, 770 square foot condo that is located in a funky, older-style neighbour in downtown Edmonton, about 4 blocks from my work. It’s pet friendly, with new counter tops and cabinets, and in-suite laundry (which is a HUGE plus for me – I don’t want to have to supervise my underwear while it’s washing). We’re probably going to go see it tomorrow and decide if we like it. The gentleman didn't have photos at the moment, but said he'd send some on Saturday if we couldn't make it by to check things out ourselves.

I’m a little lost on what condo living entitles. We’re not looking to buy right now, but we will be renting from the owners if this deal goes through. For those that live in a condo, what are you responsible for besides rent? I’m guessing there is tenant insurance on top of rent – is that yearly or monthly? Are utilities organized like that of an apartment, with heat and water being included?

I’m going to ask these questions tomorrow, but I don’t want to go in totally blind. Is there stuff I should look for? I know to check for leaking faucets/roof, mold, cracks, and hole, as well as to turn all the faucets on, check the hot water, and flip every light switch in every room.

Help!

 

[banany]

In terms of responsibilities for both tenants and landlords, you should read what your provincial tenancy act states. I googled Alberta tenancy laws and got: http://tenant.landlordandtenant.org/home/default.aspx, which is for tenants and has a link for landlords.

Some places include heat and hot water and some don't. My old place was rented from a property management group so the whole building was rental units and it included heat and hot water. My boyfriend's old place was rented from a couple who owned the unit so the he had to pay heat himself, but gas (for the fireplace) was free as it was included in the strata fees (but you are essentially paying the strata fees for your landlord) and water was free as the landlord pays that annually. When the strata fees went up so did his rent.

If the place does have any of the problems you listed, those are all things a landlord is responsible to fix. Some things are considered "essential" and must be fixed immediately; it all depends on your provincial tenancy laws.

I would recommend you read up on the tenancy laws as my previous landlord was really lazy and lousy at his job and the only reason things ever got done was because I familiarized myself with the laws and followed all protocol when there was an issue.

 

[Nancy]

If you are renting, the maintenance of the condo or building is not your responsibility. You will pay your rent and depending on the lease, probably your electricity which may include heating, depending on the type of heating that's used. Of course, phone and cable will be your responsibility as well.

When you sign the lease, it will be spelled out exactly what you do and don't pay for and it cannot change for the duration of the lease. Make sure you know exactly what you have to pay for and if you pay for heating, I'd ask to see receipts for the past year to know what sort of cost that will entail. It might surprise you how much it will add each month.

Renting a condo is no different than renting an apartment. Condo is just a fancy name for apartment that is owned rather than rented. In your case, you'd be renting from the owner.

 

[Courtney]

Thanks, ladies! It's a good idea about the receipts, Nancy. I have a fairly good idea of what it costs to have power, heat, and whatnot in the house (dad goes on a rant every single month), but it's always good to have a better idea of what I'm looking at.

So they can't change the rental amount for the entire term of the lease? I never knew that, but that's a good thing to know. We're probably going to sign a lease for 6 months or one year, and at the price we'd be getting, I'd love to lock it in. $950/month for a downtown, completely renovated and modern space is a STEAL.

 

[Nancy]

Make sure you get it put in the lease that you are allowed to have the hedgehogs and that you are allowed to use a space heater.

Also, don't go by your parents house as an idea of heating as it could be better or less insulated than the condo. Depending on the age of the building the condo is in, it may have no insulation in the walls.

 

[Jeanette]

Nancy is exactly right!

In terms of what the condo owner might be charged by the condo company...
rent
electric
water
parking
condo fees
maintenance

These things add up. But usually the one who owns the condo would set a flat fee for everything except for parking and electric. In Toronto, there are an insane amount of condos being built. Some people just buy the condo and lease it out to people and sell it once they have made enough money off of it.

 

[Nancy]

Another thing to consider is this is a buyers market for houses and they are dropping in price constantly right now, at least here. If you can at all swing it, a house might be a good investment.

 

[Jeanette]

$950/month for a downtown, completely renovated and modern space is a STEAL.

*chokes*
I'm paying more for my teeny-tiny jr. one bedroom with no laundry (pay laundry in the basement)

 

[Courtney]

Nancy - the gentleman is fine with the hedgehogs and has expressed interest in actually meeting them, but I'll definitely double check about the space heater and get both written into the lease. I'm also debating a rheostat heater for the cages, but I don't know if that will work with FNs. If nothing else, it will cut down the power bill and set the landlord's mind at ease.

A house is a little bit out of our reach right now, but we're going to be looking in a year or so. The market here is still pretty high (older houses with minimal renovations in a desirable neighborhood are going for 350K+) and we want to build our credit and save a respectable down payment. We're also not quite sure where we want to live and it's much more difficult to sell a house than it is to pay our way out of a lease.

Jeanette - good points. I'm so completely lost on this - I might bring my cousin along with Adam and I... she knows all about leasing condos and she'd be able to see right away if anything is missing or seems strange.

PS: I told you it was a steal!

One question though: If Adam and I rent this property and sign a lease for 1 year, can the owner sell it out from under us before that time and evict us? I assume people with common courtesy would not, but it's a genuine worry.

 

[Jeanette]

Condo is just a fancy name for apartment that is owned rather than rented. In your case, you'd be renting from the owner.

That really depends on where you are.
In Toronto, when you hear 'condo', you usually think "doorman, in suite laundry, exercise facilities" at a minimum.

Also, a perk to being in a condo is that everyone around you actually owns their place and (theoretically) would care more about keeping their place nice, free of garbage (less rats, unwanted insects, etc.).

If Adam and I rent this property and sign a lease for 1 year, can the owner sell it out from under us before that time and evict us? I assume people with common courtesy would not, but it's a genuine worry.

Your only option basically is to sue. That would be the same as an apartment owner kicking you out before your lease is up.

 

[Cinder and Me]

I've lived in a condo, and right now I'm in a townhouse.

In both the condo and townhouse I paid/pay:
Rent
Electricity
Gas
Water & Trash
Cable TV, phone, internet

I do not pay association dues or insurance.
I also do not have pet rent like a lot of apartments have (which I think is TOTALLY stupid!!).

Remember that with a privately owned condo, if something breaks or stops working it IS their responsibility to fix it. But it may not get fixed as quickly as most apartment complexes since they have their own maintenace on-site. But I've had some things break, leak, etc. and both landlords have been great about it, and got it fixed within 48 hours.

The types of things you want to ask:
How long will I have to wait if something breaks or needs to be fixed?
Is there plenty of guest parking? (A big problem with some places)
How is the crime/break-in (for cars and the condo) in this area?
Do you raise rent after the lease expires? (Some do, and some don't)
Central air? Window unit? Shared utility bills with neighbors? (Some areas have a weird system of the bill being split among a building or condos that have shared walls)

 

[FiaSpice]

*chokes*
I'm paying more for my teeny-tiny jr. one bedroom with no laundry (pay laundry in the basement)

*chokes* I'm looking at appartments right now in the city just next to Montreal and one bedroom (we call that a 3 1/2) with nothing included (exept outdoor parking sport and washer/dryer outlets) about 5 minutes from the dubway is 500$ max. Of course it's not downtown

 

[Jeanette]

*chokes* I'm looking at appartments right now in the city just next to Montreal and one bedroom (we call that a 3 1/2) with nothing included (exept outdoor parking sport and washer/dryer outlets) about 5 minutes from the dubway is 500$ max. Of course it's not downtown

I have heat and water included (no parking), but still, it's a LOT. That's living right downtown Toronto for you though! :huh:

 

[Tiatrack]

Keep in mind with a condo (at least here in the US) you're also bound by the rules of the association. i.e. if the association rules say no external A/C units you can't have one, even if your landlord says it is fine. HOAs also frequently have rules on the number/types of pets you can own.

 

[Courtney]

Now I feel really good about the deal I found. LOL. I'm just hoping it's as nice as the guy made it out to be. Adam and I agreed that if everything checks out, it will work for us, and the landlord seems nice, we'll probably go for it. It's very difficult to find places in Edmonton that will actually rent to young adults (one fresh out of college) with pets (regardless of them being caged). The ones that do turn out to be less than, well, maintained.

I'm keeping my fingers crossed. I'm bringing a camera with us if we go check the place out tomorrow so I can show people and get their opinion of the space. I'm the type that needs to sleep on something and look back the next day to see if I still like it, so hopefully they'll allow me to take pictures.

 

[Cinder and Me]

LOL, I pay $1600/month for a two bedroom 1 1/2 bath townhouse. And paid $1650/month for the condo I lived in last year (2 bed, 2bath).

Both places have all appliances (stove, fridge, washer/dryer, etc.) and an attached garage.

The most expensive place I lived in was an apartment that was a 2bed, 2bath and after pet rent, it was $1870/month. It was also MUCH smaller than either the condo or townhouse. Nice an expensive here in Sunny Southern California. :wacko:

 

[Courtney]

Not bad. LOL.

I also just found a listing for a 2 bedroom, 1.5 bathroom condo for $1000. Maple cabinetry, granite countertops, what looks like tile in the kitchen and hardwood everywhere else, stainless steel appliances (hello, fingerprints!), in-suite laundry, deck with glass railing and fully updated with new roof, siding, boiler and windows. The location isn't nearly as central, but it's in an equally funky area - Whyte Ave, for those that are familiar with Edmonton.

It doesn't say anything about being pet friendly, but I'm going to call the person about this space too. 2 bedrooms would be much nicer.

 

[TillyChinchilla]

Nice an expensive here in Sunny Southern California. :wacko:

The cost of living here is a lot less, but so are the pay rates (federal min. wage, etc). You can get a decent 2 bedroom, 1.5 bath duplex or townhouse in Elizabethton, the next town over, for $350 a month.

We pay a lot more, because we are in one of the major cities in TN - but once you leave the city it goes way down. It works out since work is only 4 miles away, and living in the cheap surrounding towns would be a 25 minute commute.

 

[Cinder and Me]

Not bad. LOL.

I also just found a listing for a 2 bedroom, 1.5 bathroom condo for $1000. Maple cabinetry, granite countertops, what looks like tile in the kitchen and hardwood everywhere else, stainless steel appliances (hello, fingerprints!), in-suite laundry, deck with glass railing and fully updated with new roof, siding, boiler and windows. The location isn't nearly as central, but it's in an equally funky area - Whyte Ave, for those that are familiar with Edmonton.

It doesn't say anything about being pet friendly, but I'm going to call the person about this space too. 2 bedrooms would be much nicer.

That one sounds nice too!

 

[Courtney]

So Adam and I checked out the one-bedroom condo that I mentioned above. The guy who will be our landlord is really nice. The space itself is laid out really nice, and is completely funky and modern. Each room is a different color and we're allowed to paint if we want. Original hardwood in the living room and dining room, ceramic tile throughout the kitchen, laundry room and bathroom, and light gray carpet in the bedroom. The bathroom is really unique and kind of resembles an ensuite. The entire bedroom/bathroom area is divided from the main living space with a french door, and the toilet/shower is separated from the sink by another door. Very cool. It's not big by any means, but large enough for two people. We also have a tiny yard/patio area that is fenced in with a padlock on the gate latch.

The landlord told us he would be taking care of all the condo fees and all we would be responsible for aside from our rent is power, phone, cable and internet. One parking stall is included.

The best thing about this condo - the guy is completely fine with the hedgehogs and they need to have a space heater going. Turns out, he and his wife used to own a hedgehog themselves. He was quite excited when he found out I had three, and told me, "Well, I might just have to stop by and welcome the little ones to the neighborhood. Do they like mealies?"

LOL. I'm going to sleep on it and see what other places reply to my emails, but it's looking like we'll go with this one. The location is awesome, the landlord seems great and we like the place.