Renting out an apartment

Amazon Mr. Bush
Jul 6 8 Comments

Have been wondering how renting out an apartment works (owned by me to a tenant). If I buy an apartment in a community that has a management office, do they manage the property and transfer the rental income to me? If so, does HOA generally include this management fee?

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TOP 8 Comments
  • eBay / Product blitzer
    The HOA will hire a mgmt company to manage the entire property NOT your specific unit. Some HOAs may even have rules against renting out your unit even if you are the owner to keep it owner occupied. When properties have high % of owner occupied units, the value goes up.
    Jul 6 7
    • Amazon Mr. Bush
      OP
      Lol if the management decides if or not I can rent out my apartment, that's BS.
      Jul 6
    • IBM 1.1.1.1
      Not bs. Many communities ive seen have this limit set as 20% of total apartment and there is a wait list to rent out.
      Jul 6
    • Amazon Mr. Bush
      OP
      Cool. BS because such rules exist.
      Thanks for letting me know!
      Jul 6
    • eBay / Product blitzer
      If you want to have full freedom on what you want to do with your property, save up to buy single family home. When you are buying a condo or townhouse that has a HOA, you basically own the 4 walls around your unit nothing more.
      Jul 6
    • eBay / Product blitzer
      Also note that most HOAs will also not allow short term AirBnB rentals, they consider that even worse than a long term leased tenant.
      Jul 6
    • Amazon Mr. Bush
      OP
      👍
      Jul 6
    • New / Other
      DuQvV7y

      New Other

      BIO
      Did stuff. Hustled hard. Retired
      DuQvV7ymore
      Some municipalities do not allow AirBnb at all.

      So, there is no such thing as full freedom. Even with a SFH.

      Your local zoning board is the ultimate HOA. And they make all the rules.
      Jul 7