Rental Basics in Las Vegas>Question Details

Gderr, Home Buyer in Salt Lake City, UT

what is condo occupancy rate?

Asked by Gderr, Salt Lake City, UT Tue Jun 5, 2012

What is condo occupancy rate in Spring Valley and Summerlin area

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5
Michael Parks’ answer
If you're asking for the occupancy rate for the purpose of obtaining financing in a condominium community where the lender is requiring a certain percentage of owner-occupied units in order to approve the community for financing. Then here's a link to the page on HUD's website where you can search to see if the condo community is approved. You can also get a "spot approval" if the condo meets certain criteria, so even if it's not listed on the HUD approved list, there's still a chance. Ideally you want to find a place that's already on the list so that you know upfront if the condo development is approved. There are a very large number of condo communities in Las Vegas that are Not approved, so it's good to do a little upfront research beforehand.

Here's the link: https://entp.hud.gov/idapp/html/condlook.cfm


Michael Parks
Broker
702-818-1700
http://www.LasVegasHousingExperts.com
1 vote Thank Flag Link Tue Jun 5, 2012
BEST ANSWER
We are property management company with over 350 homes/condos/townhomes under managment right now with only 12 to 15 vacencies at any time. The occupancy rante for condos in the areas your asking are between 3 and 6% vacency depending on all sorts of reasons. The best way to invest in condos is to decide on locations, how much HOA fees your willing to pay, ROI, price point. Let us know if we can help you in any way. Feel free to use our web site to search current listings by area and price. If you decide to use us to help you find a property, we can create a custom search for you and send you properties prior to them being listed as we get a lot of properties from other sources. Thanks, Matt and Kim

Matthew D’Ercole
One Source Realty and Management
Cell - 702.501.0973
Website - http://matthewsellslasvegas.las.mlxchange.com
0 votes Thank Flag Link Tue Jun 5, 2012
0 votes Thank Flag Link Tue Jun 5, 2012
Lenders look at undpaid HOA and non-owner occupied as a negative for condos financing



David Cooper 702-499-7037 Investor with Buyers Agent License at Since 1917 Realty
0 votes Thank Flag Link Tue Jun 5, 2012
Each subdivision has a different occupancy rate and it varies. If you have a specific neighborhood in mind, I will be happy to help with the information .

Rina levy
Broker/Associate
Realty Executives of Nevada
702-612-7099 cell
702- 992-7754 direct
Cvegashomes@gmail.com
Skype: rinalevy18
http://Www.cvegashomes.com
Web Reference: Http://www.cvegashomes.com
0 votes Thank Flag Link Tue Jun 5, 2012
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