A question I am asked frequently is, Do you have any condos for rent? Unfortunately, we do not rent out our new condominiums. Occasionally, a used condo will be marketed for lease by owner; these are often posted on craigslist.org.
I am also asked, ‘If I buy a condo, can I rent it out in the future?”. The answer to this is, ‘yes’. The condo by-laws do allow for the individual condo units to be rented. However, it is important to note a few things:
- Condominium tenants must abide by the by-laws, just as the owner is required to
- If there are any by-law violations, the landlord will be held responsible, not the tenant
- The lease documentation must be approved by the HOA, and contain language specified by the HOA
- Landlords are encouraged to pay the HOA dues directly, and not let the tenant pay them
Every condo association has their own by-laws, and they must be read carefully before allowing your condo to be rented. At Sierrafield, condos are allowed to be rented, however, condo landlords are held to the same standards as if they personally lived in the unit.