3 things many condo buyers ignore but shouldn't

REThink Real Estate

Q: We’ve just purchased an apartment in Manhattan — a condo, not a co-op. We’ve yet to move in, but just received word from the real estate management company who represents the building that anytime we want to do even a minor repair or alteration (e.g., add a bookshelf, change a tap), we have to give them seven days’ notice and pay them $150 for the privilege.

Is this common, or is this extortion? It is my place, isn’t it? –Rachel