HOA fees account for 50% of rent price according to Zillow?

I have basically zero knowledge in this area but I’m considering buying a condo as a rental property and I could use some advice.

What prompted me to write this is a condo in South Carolina with a “Rent Zestimate” which is 2X the cost of the HOA fee, or in other words the HOA fee is 50% of the monthly rent.

Is this possibly true or am I missing something? I understand HOAs have some purpose but 50% of the rent sounds incredible to me. Once that fee was added to property management, property taxes and insurance I don’t think you could make any money renting in that building.

This was the worst I’ve seen but many condos have a HOA fee that is an onerous 30-40% of the rent estimate. What percent is the HOA of the typical rental price?

submitted by /u/genericptr
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I have basically zero knowledge in this area but I’m considering buying a condo as a rental property and I could use some advice. What prompted me to write this is a condo in South Carolina with a “Rent Zestimate” which is 2X the cost of the HOA fee, or in other words the HOA fee is 50% of the monthly rent. Is this possibly true or am I missing something? I understand HOAs have some purpose but 50% of the rent sounds incredible to me. Once that fee was added to property management, property taxes and insurance I don’t think you could make any money renting in that building. This was the worst I’ve seen but many condos have a HOA fee that is an onerous 30-40% of the rent estimate. What percent is the HOA of the typical rental price? submitted by /u/genericptr [link] [comments]

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