A Note to HOA’s & Property Managers: 
Short Term Rental-Friendly Condos & Apartments

Dear Property Managers and HOAs, 

By now you must have heard how short term rentals are cropping up all over the globe.What started as a cost saver for larger families on vacation has morphed into an international industry. But now, short term rentals are no longer found just in resort towns. More and more we are seeing these rentals becoming popular in every community, including yours!!! Corporate seminars, personal development, extended family visits, surgery recoveries, and relocation are just a few of the reasons for staying in neighborhoods which are not traditionally considered vacation “hot spots.”

In some cities, short term rental-friendly apartment complexes and condominiums are already happening.Where possible, it makes sense to consider these situations and create a way for some of your properties to integrate a system for this that will benefit your entire project. By being proactive, you can help lead the evolution of our cities to foster certain properties that may welcome this type of living, and which allows tenants (renters & home owners) plus short term rental guests, and HOA’s/property mangers to happily coexist. 
A few reasons we are seeing short term rent-friendly apartment buildings and condos:

  • Increases overall occupancy 
  • Vacant rentals can be short term rented
  • Creates additional revenue stream for property managers
  • Less evictions and turnover. Tenants can afford high rents
  • Singles like meeting new people
  • Insurance coverage
What’s needed to be short term rental-friendly: 
  • Basic guidelines/rules for the short term rentals in your complex
  • Risk management system for these units: insurance and liability policies, use of facilities, length of stay, eviction policy
  • Create overall win-win programs that allow your tenants/home owners to succeed with their short term rental. Leverage these short term rentals to fill vacancies and generate joint ventures with the renters and home owners

Home sharing and short term rentals are now a billion dollar industry, yet it operates largely in the shadows. Often the first indication that there is a short term rental in your community is when a problem occurs. As the property manager of the condo or apartment complex, why not be pro-active and address this situation before problems occur. Best of all work with your renters and home owners to develop intelligent systems to create rules and responsibilities that work for these properties.
Hi, Im Rachel and I teach people how to LIVE FOR FREE, GET PAID TO TRAVEL, MEET AMAZING PEOPLE. Home owners can now join the short term rental revolution and start earning passive income on their home rental business. Rent your home or rooms in your home on Airbnb using short term rentals. Learn more on my website at: https://www.rentalpreneur.com



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