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aguduser

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My condo will be ready for occupancy in a few months, it's a two bed, two bath. I've been thinking of renting it out as short term rental, so that I could use it occasionally for my out of town guests, while still getting some income from the short term rentals to pay for the mortgage. My question is: is this a possibility? If it is, would it be a good option? Or should I just not complicate things, and look for a long term tenant instead? Do you know any property management company that manages short term rentals?
 
The vast majority of condo boards do not allow leases of less than 12 months. That being said, it normally takes a board at least a year to create the rules that govern the condo and if you choose your tenants wisely, they might not even know. It's a risk as they could kick out a tenant if they find out, but it might be worth it. I've found that short term rentals - furnished - command at least a 35% premium and that ain't chickenscratch.
 

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