Mission Valley condos, San Diego CA: Condo living - Sharing space

By
Real Estate Agent with HomeSmart Realty West CalBRE #01458572

If you leave a comment, Jim will visit your blog and comment.This is the fifth in my "Condo living" series. To find previous posts in the series, simply click here.

While living in your Mission Valley condo has many benefits, such as little or no maintenance, it has its own set of problems that one has to be aware of. One of those problems that seems to come up regularly is that of sharing space.

By sharing space, I mean one of three things:

  1. subleasing all of part of your Mission Valley condo to someone else
  2. inviting friends and relatives to stay with you for prolonged periods of time
  3. having a loud, boisterous party, such as during a Chargers or Padres playoff game

Some condominium CC&R's speak in only broad, general terms about sharing space while others are very specific.

River Scene, Mission Valley, San Diego CAIf you are intent on subleasing your Mission Valley condo to someone else, rather than just having a roommate, you need to contact the condominium association and your mortgage lender before you buy your condo. Some lenders will not provide a mortgage if you're not going to live in the condo or if too many of the condos are already being rented.

Renters typically aren't inclined to maintain a property that doesn't belong to them, and usually don't have a copy of the CC&R's, so renters bring a set of problems that the condo association might not be prepared to deal with.

River Scene, Mission Valley, San Diego CAWhen inviting people to stay with you, "prolonged periods of time" are usually defined as either (1) 48 hours or more, or (2) seven days or more. The presumption in many cases is that a visitor will bring a car, and since parking is at a premium in many condominium complexes, a visitor's car could take away from a parking place for another condominium owner. Forty-eight hours allows someone to come visit for the weekend, while seven days recognizes that a family member or friend might have an emergency that you can help them with by letting them stay with you.

Extenuating circumstances requiring longer stays are usually handled on a case-by-case basis but are rarely denied. You just need to check your CC&R's so that you'll know what normal circumstances are and what extenuating circumstances are.

Loud boisterous parties are rarely allowed, but if 90% of your condominium complex is having a Super Bowl party because the Chargers are in it, it's unlikely that anyone is going to be cited. If the hated Oakland Raiders are in the Super Bowl, though, and you're the only Raiders fan in your complex, and you're the only one having a party, it might be a different story.

**********

Century 21 Award Mission Valley
California DRE License #01458572
619-729-5701
jimfrimmer@century21award.com

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This week's posts:

  1. Public art along the San Diego harbor - 8/19/09
  2. WWW (Wordless Wednesday with Words) at the San Diego Harbor - 8/19/09
  3. Condo living - Sharing water - 8/18/09
  4. San Diego County home sales and prices continue climbing.... - 8/18/09

Last week's posts:

  1. Kitty cat facts you might not know - 8/16/09
  2. What is the purpose of a pre-listing inspection? - 8/16/09
  3. Condo living - Saving at the grocery store - 8/16/09
  4. Condo living - Covenants, conditions, and restrictions - 8/16/09
  5. Lazing on a Sunday afternoon at the San Diego Zoo - 8/16/09
  6. Don't be lounging around.... - 8/15/09
  7. Condo living - The basics - 8/13/09
  8. What do YOU see? - 8/12/09
  9. Still trying.... - 8/11/09
  10. Mission Valley condos, San Diego CA: The Missions at Rio Vista - 8/10/09

Previous week's posts:

  1. Mission Valley condos, San Diego CA: Things to do - The San Diego Zoo - 8/10/09
  2. Mission Valley condos, San Diego CA: Federal Stimulus projects - 8/9/09
  3. Mission Valley condos, San Diego CA: Pandas at the San Diego Zoo - 8/9/09
  4. Can a business prevent you from blogging about them? - 8/8/09 - Featured
  5. Free concert tonight in La Jolla featuring yours truly - 8/7/09
  6. Check this out! What ActiveRain has done for me! - 8/6/09 - Featured
  7. Mission Valley condos, San Diego CA: You, too, can have a pool! - 8/6/09
  8. Mission Valley condos, San Diego CA: Condos make great second homes or vacation homes - 8/5/09
  9. Mission Valley condos, San Diego CA: Lucky dogs at The Lido - 8/5/09
  10. Mission Valley condos, San Diego CA: Hye Park - 8/3/09

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Want to share a good book? Join the Active Rain Book Club.

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Topic:
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Rainmaker
260,985
Christianne Gordon
REALTOR e-PRO CDPE, SFR Carson Valley Real Estate Specialist
Carson Valley Homes and Land - RE/MAX Realty Affiliates

Hi Jim! I hadn't really thought about subleasing and CC&Rs. This is a great post and easy to read from a formatting perspective. Do you have much additional clickthroughs from putting your recent blogposts in your footer?

August 20, 2009 04:48 PM
Rainmaker
647,632
Realty Works Temecula
Real Estate, Temecula, Murrieta, Menifee
Realty Works Temecula

Jim, Good tips for planning and staying in line with the CC&R's of any condo project.  I love that pool, looks very nice!

August 20, 2009 09:04 PM
Rainmaker
1,108,089
Jim Frimmer
Realtor & CDPE, Mission Valley specialist
HomeSmart Realty West

Hey, Christianne - My farming area, which is in a highly active part of town, both day and night, and close to the beaches, sports, downtown, Mexico, three universities, etc., is a very lucrative area for buying a condominium and treating it as rental income property. It's not hard to get the monthly rent to pay for the mortgage, insurance, and taxes. Currently, with the mess in the mortgage industry, that is causing some problems in some condominium complexes because the established owners are renting their condominiums, while those trying to buy a short sale or foreclosure are finding that they can't get a loan because the percentage of owner-occupied units is not high enough. It's a major cause of the abysmal inventory in Mission Vally condominium complexes.

The formatting template was done by my marketing guru, and every time I mess it up, he fixes it for me -- LOL.

I get a lot of click throughs from recent blog post links, and they seem to also provide more Google juice.

Hey, Jane - There are some awesome pools and spas, not to mention lakes, in Mission Valley.

August 26, 2009 10:09 PM
Anonymous
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Rainmaker
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Jim Frimmer

Realtor & CDPE, Mission Valley specialist
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