Reviewer:
Unregistered User
Owned a unit in this building

Reviewed on Mar 6 2017


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"BAD INVESTMENT HANDS
DOWN!!"

as an owner investor at FOREST VILLAGE for the last decade or so, I have to say all in all I would have been better off burning $20 bills than 'investing' our money here. The strata fees are over $400/month for a 3 bedroom, and the YEARLY 'SPECIAL LEVIES' run at $1300 each and every year. As owners our fees, not including our mortgage, property taxes and insurance are over $6,000 a year! the onsite manager can never be found, and is overpaid to do very little. He's unprofessional and doesn't do what he is paid to do. The complex is mainly run by the Offsite management company who never seems to know what is going on. The place is run down, and the rental/sale turnover is HUGE! No one seems to like to live here. We purchased this property as an investment for our retirement, however as all we've done is spend spend spend without reaping the profits, we finally made the decision to sell! We managed to get an 'ok' price however when we add all our expenses over the years, we have sold at a HUGE LOSS! I would not recommend anyone waste their money here! Forest Village Anyone still considering a purchase here, we would strongly recommend you do your research! The true answers are from other owner/investors and the renters on this complex.....and not what the management company/realtors have you believe.

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Comment on this Review: unregistered user on March 5 2017: would also like to add, that although the strata fees/special levies are collected, the place seems to be falling apart! Bad wiring, burst pipes, floods, that's just to name a few. Just a 'money pit' unregistered user on January 30 2018: Sucks for you. Bet you are kicking yourself now for selling. They have doubled in price and are being revitalized and a walkway over the highway to the university. One bedrooms are going for $199k and two bedrooms are $239k. Write a comment about this review Enter image text:

Reviewer:
Really
Visited a unit in this building

Reviewed on Jun 9 2008


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"Great Investment"

I visted a person renting in this building and it struck me that this would be a great investment. The building is nothing special, in fact not really the kind of place I would want to live, looks like your typical rental building, needs some updating etc. But when I found out how much rent was and what the price of the units are, I realized it would be a great place to own. There is an on-site rental office so I talked to them to get more info, turns out they take care of everyhting, if you own all you have to do is nothing, great idea and it could actually pay for itself. A large number of the units are rental units and it seems there is never much of a problem finding renters.smrtovnica smrtovnice

Really recommends this building for:
Investors

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Comment on this Review: unregistered user on July 16 2015: IT IS ALL UNTRUE, STARTA FEE IS $309 AND RENTAL MANAGEMENT FEE IS CLOSE TO $50. THEY ARE TAKING MORE THEN HALF OF THE RENT MONEY. unregistered user on July 16 2015: IT IS TOO EXPENSIVE FOR INVESTOR, AFTER PAYING STARTA FEE AND MANAGEMENT FEE THE INVESTOR LEFT WITH FEW BUCKS SO THAT THEY CAN KEEP THERE MOUTH SHUT unregistered user on October 24 2015: 309 is strata for a two bedroom. I have had multiple rental properties and this has been a great long term investment. I renovated my unit when I bought and maintain it nice. Very close to university. Great manager on site, lots of updates recently with the addition of a beautiful retaining wall and shrubs, landscaping improvemen, convenient shopping being built right next door unregistered user on March 5 2017: if by 'they take care of everything' you mean, no one can ever be found, things are allowed to fall apart, and people finally move or sell.....I guess you're right! I would highly recommend anyone that buys a unit here as an investor, manages the unit themselves and not rely on the so called on site manager/and management company unregistered user on March 19 2017: strata fees for a 3 bedroom are $416/month plus $1278 'special assessments' that happen every year! Was told many more 'special assessments' to come so had to list asap so we could stop wasting our money! unregistered user on February 6 2019: We used to live here and it was horrendous...every negative comment on these buildings are true. Still we were looking for a place to invest and considered these because of the new walkway bridge but the strata and additional costs associated with these properties should be illegal. A lot of the people in here are addicts and getting a decent rent for these places with proper tenants is soo difficult. Try putting up an ad on craigs list to test it out. Strata basically has you bound by so many rules and when things go wrong they are not there to help but just collect. This is a pass for an investor. Youve been warned. Write a comment about this review Enter image text: