1.
|
What does your condo’s
declaration say about short-term rentals? Is it
permitted? Could you be sued? On average, a short-term rental is
anything less than six months. |
2.
|
Think about insurance. If you
have property insurance, the coverage may
not extend to rental coverage on a short-term basis. Damage to walls,
floors, appliances, etc. might not be covered, and who’s liable if your
guest skips town after a single night? |
3.
|
Do some research into the
percentage of owner-occupants. Buildings with
majority owner-occupied units tend to be less open to short-term
rentals. But buildings with high renter-occupants, such as the condos
in CityPlace, might be more welcoming to short-term rental
opportunities. |