Asked by Elisa, 02129 • Mon Jun 21, 2010
Ideally, I would like to sell my Bronzeville (Chicago) condo but I'm afraid of a loss in the current market. I have successfully filed a "petition of hardship" to my Board twice in the past to allow me to rent out the property for 1 year lease agreements. I've had good tenants and wouldn't mind renting again, however, the escalating costs of assessments now puts me slightly ($15/mo) into the red. I know I will more than likely be unable to rent the condo out for more any more than what I'm charging now. Is it worth it to put in a third petition for rental to the Board and absorb these slight costs again in hopes of a better market next year? Or is it time to cut my losses?
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