[jdrtx]

Actually, the OP should consider the inflation tax more than property taxes, it is the unkindest tax of all.

[bledsoe3]

Originally Posted by ScoopLV

No, it is NOT a tax. It is an administrative fee that the homeowner agreed to when purchasing the house. Get a bunch of homeowners together and vote out the HOA, and it's gone. No problems.

People who have that big of a problem with taxes should move to the tax-free paradise of Somalia. No government. No taxes. A true libertarian nirvana.

HOA fees also pay for a lot of things depending on what amenities your area has. Ours pays for landscaping, garbage, pool, gym, paving and everything on the outside of the building including the roof and painting.

[Jessey126]

Just wanted to say thank you to everyone weighing in on this one - I think I have the low down now on HOAs...

Looks like we don't have to pay it in rentals but definitely when we buy - got that, thank you again everyone

I must add, we'll be happy to pay HOA to live in an area where certain amenities are provided, it seems a good thing...

[anchoragedan]

You may stipulate that your renter pay the HOA fee, but as the property owner, you are legally responsible to make sure it is paid. Property taxes too.

[007 license to sell]

You always want the rent to include the hoa and then you pay it. If your tenant doesn't pay it you could have a lien put on the property and the hoa can foreclose on the property and sell it. Also you need to closely monitor the utilities if the tenant doesn't pay the utilities then the utility company can put a lien on the property as well.

Also do back ground checks on tenants not only credit because if you have a tenant that's a criminal renting and the cops come and break down the door some day and tear up the place your on the hook or if the tenant is a known drug dealer you don't want to find out the hard way the rental home or condo was used as a grow house or a meth lab then you have even a bigger problem.

I am not an accountant , but you need to check with your accountant about how to purchase your rental property. Ask the accountant if you purchase a rental property in your name or a LLC which would protect your other assists in the event a tenant sues you.

[BBMW]

Don't invest in cash, and it's not a tax.

Originally Posted by jdrtx

Actually, the OP should consider the inflation tax more than property taxes, it is the unkindest tax of all.

[Caltovegas]

What if you own a home outright? Can a HOA still take the home if your in "violation"?

[lvoc]

I believe HOAs can foreclose only for non payment of monthly fees. They can however lien a home for other charges.

[kttam186290]

Originally Posted by lvoc

I believe HOAs can foreclose only for non payment of monthly fees. They can however lien a home for other charges.

Which is why I was saying that you never truly "own" your home if it is part of an HOA.

[lvoc]

So it is your considered opinion that you can't own your home if a mechanic doing repairs can put a lien on it?