Webtiryaki Bulut Themes!

The simplest and fastest way to build great UI for your community.
Log in Register

[PA] Buying an apartment I currently rent

  • Thread starter Thread starter /u/Anyun
  • Start date Start date
U

/u/Anyun

Guest
I really like the apartment I currently rent and am interested in buying it. I looked at comparable units and feel that I could afford it. I've reached out to the property manager expressing interest and am waiting to hear back (it's a weekend). However I have some questions I'm hoping you all might be able to answer:


  1. The apartment is part of a townhome that's been subdivided into 3 units (1 on each floor). I believe the building is an investment property, especially since it's managed by a property management company. It would be a lot easier to broach this conversation with a private landlord, obviously, but I'm not sure a property owner with this kind of setup would even entertain the idea of selling a unit in their investment property. What do you all think? Are there legal complications involved in this scenario? We would of course get a lawyer if the owner entertains the idea.


  2. We live on the top floor and have a roof deck. The AC units for all three units are only accessible from our roofdeck, which we have exclusive access to. If we became owners of the top unit, and the AC units for either of the other two units needed repair, the property management would have to go through our apartment (this has already happened once). What are the legal considerations with such a set up?


  3. Obviously we would transfer all utilities to our name, and we already pay for electric and internet (no gas). So we'd have to cover water, sewage, and garbage. Is it even possible to transfer 1/3 of the building's sewage and garbage responsibility to someone?


  4. Generally, I'm curious what everyone's opinion is about this kind of idea. I've discussed it with my wife, and she's not super interested. For one thing, the school district is not great. Additionally, both she and I don't feel we have enough information and savvy to make this setup work (yet). However, we both love this apartment and the neighborhood, and I'd love to own a property here, especially because I believe it will appreciate in value. We would probably buy a house in the suburbs in about 2 years, but maintain ownership of this property if we got it, and probably rent it out to someone else.
submitted by /u/Anyun
[link] [comments]
[PA] Buying an apartment I currently rent
Continue reading...
 
You must log in or register to reply here.
Top