I’m always looking for new opportunities and one just appeared in my inbox today. A friend is planning to list their 2/2 condo for $90,000. She just updated it but it’s upstairs in a fourplex style building. Since she hasn’t signed with a realtor yet, I could get it for less. I really enjoy hosting Airbnb but its been for my detached garage apartment.
I’m wondering if a condo that is ‘apartment style’ will be less appealing and harder to book. I’m also wondering if my superhost status will transfer to my new listing if I were to buy it. How does that work if you have 2 listings - are the stats separate?
Do condos have some restrictions for Airbnb activity? How do you find out?
Fascinating question. A quick search of this board alone will give you pause.
Condo docs are very specific about what you can and can not do with your property; and with a majority vote, those rules can be changed. Ask to see ALL of the condo documents, and then review with a lawyer to determine whether or not those documents forbid short term rentals. Some condos even forbid renting at all since % of owners who live on site has a direct relationship to the ability of potential buyers to get a mortgage. Don’t pay any more than you can sell the thing for if the other owners decide that they don’t like those wheelie board suitcases rumbling up and down the hallways and change the docs to forbid STR.
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Thank you for your suggestion. I forget to search first when I am looking for information but will do that now.
