Maybe you bought your property as an investment. Perhaps your circumstances in life have changed, and you now need to downsize – or go bigger. Or your job could be relocating you across the country.
Whatever the reason for wanting to lease your home or condominium, if you live in a community association, it might not be as simple as putting up a “For Rent” sign. In fact, you probably can’t even put up a “For Rent” sign outside your home.
Rules about tenants can vary widely between homeowners and property owners associations (POAs). Some cap the total percentage of homes that can be rented out within a community. Others may also set minimums for the length of leases to avoid homes being used as Airbnbs, vacation homes or other short-term rentals. And, tenants are required to commit to compliance with a community’s rules and regulations.
Before you open up your home to renters, here are a few tips:
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