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Why Some Condo Floors Are Never Rented—Even in Booming Cities

June 24, 2025 By Teri Monroe Leave a Comment

Have you ever wondered why some condo floors are never rented? You’re not imagining things! Some condo floors remain unrented, even in high-demand, booming cities. This is usually for a mix of economic, regulatory, and psychological reasons. Here’s a breakdown of the key factors.

1. Developer-Owned Inventory

Have you heard of shadow holding? In this speculative holding, developers or investors may hold onto certain units, especially on premium floors, waiting for prices to rise. This shadow inventory is not listed for sale or rent. So, units could remain vacant for a while, until the market is right. Especially in volatile markets, holding high-value units can be a strategic move to avoid flooding the market and lowering prices.

2. Luxury Floors

Sometimes luxury floors are just too expensive. This can price out many tenants. Top floors often command luxury premiums because of views and amenities. Consequently, they may be too expensive to rent. Owners may prefer to sell them as luxury residences rather than rent at a discount. Plus, wealthy owners may not need rental income and are more interested in long-term capital gains.

3. Foreign Ownership & Vacant Units

Sometimes, foreign owners invest in a park. This means that foreign investors sometimes buy condos as a store of wealth and leave them empty. It’s especially common in global cities like Vancouver, London, and New York. It’s also important to consider that some units are used only a few weeks per year as second homes or vacation properties. That doesn’t mean that they are completely vacant.

4. HOA or Condo Board Restrictions

Some owners aren’t able to rent out their units due to homeowner’s associations or condo board restrictions. Many condo associations limit how many units can be rented at a time to maintain a certain owner-to-renter ratio, preserve property values, or comply with mortgage insurance requirements. Even if owners want to rent, they may be placed on a waiting list due to these caps.

5. Market Perception and Stigma

Some floors may be seen as unlucky. In some cultures, like East Asian, certain floors are avoided due to superstitions, like the 4th floor or 13th floor. Because of this stigma, tenants may be hesitant to rent on these floors. Some buildings even skip the 13th floor for this reason! Some other reasons that some units don’t get rented are for practical or aesthetic reasons. Noisy or unattractive units are much harder to rent. There also may be some units near HVAC systems, have low-light or are awkwardly shaped. All of these factors can make a unit less appealing and make it sit empty longer.

6. Construction Defects or Legal Issues

There may be other factors that are leading to vacancies. Some buildings are involved in legal disputes that deter potential renters or buyers. Plus, some buildings may not be completely finished. Top floors may remain incomplete due to budget overruns or changes in project scope.

7. Tax and Accounting Strategies

Sometimes, depreciation and write-offs play a role in units not being rented. Wealthy owners might leave units unrented for tax reasons, like using depreciation or capital loss strategies in complex real estate portfolios. By not renting, they can also avoid triggering certain tax events or reclassification of the property. These strategies are often used to optimize long-term financial positioning rather than maximize short-term rental income.

Understanding Why Some Condo Units Are Never Rented

While it might seem puzzling to see empty condo units in bustling cities, there are often strategic, financial, or cultural reasons behind the vacancies. From investor tactics and HOA restrictions to superstition and tax planning, these unrented spaces reflect a complex mix of motivations beyond simple supply and demand. So next time you pass by a seemingly vacant building, remember, there’s likely more going on behind those dark windows than meets the eye.

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What to Do Right After Receiving an Unexpected Windfall

June 23, 2025 By Susan Paige Leave a Comment

Most Americans admit they wouldn’t know what to do with a sudden large deposit. It sounds like a great problem to have—until it happens. You could get a bonus, a settlement, an inheritance, or even an old refund. One day you check your balance and there’s a number higher than you’ve ever seen. That quick rush of excitement? It fades once you realize you don’t have a plan.

The truth is that unexpected money can disappear just as fast as it arrived. Many people spend the entire amount within a few months and regret how they used it. The way you handle a windfall can affect your financial situation for years.

This article will guide you through the very first steps to take so you can use that money in a way that helps you—not hurts you.

Double-Check Where the Money Came From

If you received a check, confirm who issued it and why. Check your records and communication to see if you were expecting it. If it came through direct deposit, review the transaction details in your online banking.

This step matters more than you think. Banks can reverse funds if there’s an error or fraud involved. And if it’s a large amount, you’ll want paperwork showing where it came from in case questions come up later—for taxes, benefits, or legal reasons.

Explore Real Estate Opportunities

After receiving a windfall, many people look to real estate as a stable and potentially rewarding investment. Purchasing rental properties, flipping homes, or expanding into commercial spaces can offer both long-term appreciation and short-term income.

For those who want to move quickly or don’t qualify for traditional financing, hard money lenders can provide fast, asset-backed funding. This type of financing is especially useful when timing is critical or when conventional loan approvals are too slow or restrictive.

Know When the Money Will Actually Be Available

Just because money shows up doesn’t mean you can use it right away. If it came by check, it might take some time to clear. Most banks release the first $225 of a check deposit by the next business day. The rest may take one to two days or longer.

The answer to how many days for a check to clear depends on your bank—usually 2 to 5 business days.

Using those funds too early can lead to overdraft fees or declined transactions. Always wait for full confirmation from your bank before you spend.

Keep It to Yourself for Now

It might be tempting to tell people. You might want to post about it or share the news with family or friends. But once others know, the pressure starts. People may ask for help, loans, or gifts. Some may even offer advice or pitch you ideas. That kind of noise can cloud your judgment.

Until you know exactly what you’re doing with the money, it’s better to stay quiet. This is your financial moment. You don’t need outside opinions right now. Keep the information to yourself while you figure things out.

Move It to a Separate Account

If the money lands in your main checking account, you’ll probably spend it without meaning to. Even small expenses will chip away at it before you’ve made a plan. To avoid that, transfer the funds to a separate account. A high-yield savings account is a good choice if you don’t need the money right away.

Keeping the windfall out of your regular account gives you more control. You’ll see it as separate money and treat it with more care. It also gives you time to decide how you really want to use it—without the temptation of having it right there in your daily balance.

Use It for What You Truly Need Right Now

Once the money clears and you’ve moved it to a separate account, take time to look at your current situation. Are there any urgent expenses you’ve been putting off? Maybe you have unpaid rent, a medical bill, or your car needs repairs. These are real needs, not just wants.

It’s okay to use part of your windfall to get caught up or take care of something that’s been stressing you. The key is to be clear about what counts as necessary. If you’ve been living paycheck to paycheck, this might be the chance to fix that cycle. But avoid spending just because you finally can. Focus on what will reduce stress or improve your daily life.

Target the Most Expensive Debts First

Debt with high interest can eat away at your income for years. Credit cards and payday loans are often the worst. If you’re carrying balances like these, using your windfall to pay them down can make a real difference. You’ll pay less in interest every month, and that gives you more room in your budget.

Start with the highest interest rate, not the biggest balance. That’s where your money will have the most impact. But don’t feel like you need to pay off all your debt at once. It’s okay to leave some money aside for savings too. A balanced approach usually works best.

Don’t Forget About Possible Taxes

Not every windfall is tax-free. Some types of money—like gambling winnings, bonuses, or legal settlements—might be taxed. Even if taxes weren’t withheld up front, you could still owe money when you file your return. The last thing you want is a surprise tax bill months later.

Set aside a portion of the windfall just in case. A good starting point is 20 to 30 percent, but the right number depends on your situation. You can keep this money in a separate account until you speak to a tax pro. It’s better to be safe now than scramble later.

Give Your Money a Job With Real Goals

Money without direction disappears fast. That’s why you need to give your windfall a purpose. Think about what matters to you. Maybe you’ve been meaning to build an emergency fund, start a business, or save for school. Now’s your chance to make progress.

List your short-term and long-term goals. Then assign the money where it fits best. You don’t need to spend it all at once. In fact, it’s often better to set up automatic transfers or savings plans so the money works for you over time. That way, you’re building a more secure future instead of just buying things in the moment.

Talk to a Pro Before Making Big Moves

You don’t need a full-time financial advisor to get solid advice. Even one session with a fee-based planner can help. They’ll look at your situation and help you plan for taxes, debt, savings, and investing. They can also help you avoid bad choices—like risky investments or giving away too much.

Choose someone who isn’t trying to sell you anything. Look for certified financial planners or advisors who work for a flat fee. A good one will listen to your goals and give you clear steps based on what matters to you.

A windfall can be a gift—but only if you treat it with care. Without a plan, the money can disappear quickly, leaving you no better off. But when you slow down, make smart choices, and think long term, you give that money real power. Whether it’s building security, clearing debt, or reaching a goal, your next steps matter.

The most important part? Knowing this moment can change more than your balance—it can change your habits, too. And that’s worth more than the check itself.

6 Wild Facts About Life in Alaska’s Darkest Towns (Where the Sun Disappears for 65 Days)

June 19, 2025 By Teri Monroe Leave a Comment

Imagine living in a place where the sun disappears for over two months. In some of Alaska’s northernmost towns, this isn’t just a dramatic idea, it’s reality. During the long polar night, residents face extreme cold, total darkness, and unique challenges that most of us can’t imagine. But life doesn’t stop, it adapts. Here are six wild facts about Alaska’s darkest towns.

1. 65 Days of Darkness Isn’t Total Blackout

Even though the sun doesn’t rise above the horizon for over two months, it’s not pitch black all the time. For a few hours each day, there’s a period of civil twilight. Civil twilight is the period after sunset and before sunrise when the sun is below the horizon, but its geometric center is no more than 6 degrees below the horizon, according to the National Weather Service. During this dim light, it’s just bright enough to see without artificial light. This is when most Alaskans do their daily activities.

2. Mental Health Is Seriously Impacted

Extended darkness can take a toll. Residents often experience Seasonal Affective Disorder (SAD), a form of depression caused by a lack of sunlight. This happens because your circadian rhythm changes, and serotonin and melatonin levels drop. Many people use light therapy lamps and vitamin D supplements to cope.

3. Wildlife Encounters Get Riskier

Polar bears and other animals may venture closer to town during the long night. With reduced visibility, polar bear patrols are often deployed to help keep residents safe from surprise encounters. Polar bears normally only attack if they are hungry or feel threatened. However, climate change is impacting their habitats and food sources, making polar bears more vulnerable.

4. Daily Life Keeps Moving

Despite the darkness, schools stay open, people go to work, and life goes on. Kids even go outside for recess, in full winter gear, in temperatures below -20°F. Sometimes children go outside under floodlights if needed. While this lifestyle isn’t for everyone, Alaskans are used to it.

5. Traditional Foods Become Lifelines

With limited access to fresh produce in winter, many residents rely on subsistence hunting and traditional foods like seal, whale, and caribou. Staples like fried bread have also become essential pantry-friendly dishes. These foods provide vital nutrients and connect people to their heritage. These traditional meals aren’t just about survival; they’re a way of life passed down through generations. In many Arctic communities, sharing and preparing these foods strengthens family bonds and cultural identity.

6. They Celebrate the Darkness and Its Return

Communities hold festivals and events during the polar night. But one of the biggest celebrations happens at sunrise, when the sun finally returns after its 65-day absence. Locals often gather outdoors to cheer the sun’s first rays. The return of sunlight is more than just a natural event—it’s a deeply emotional and spiritual moment. For many, it symbolizes hope, renewal, and the resilience of life in the Arctic.

Celebrating Darkness in Alaska’s Darkest Towns

Life in Alaska’s darkest towns is unlike anywhere else in the world. From surviving months without sunlight to embracing centuries-old traditions, residents show remarkable strength, adaptability, and community spirit. These wild facts offer a glimpse into how people not only endure the darkness—but find ways to celebrate it.

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