They also need to ask if the condo is managed by a professional management company or is it managed in-house by unit owners, he said. If the company does a lousy job you can fire them, but you can't fire another owner. Some condo associations are starting to crack down on short-term rentals, Amon warns. Rentals are creeping up in length of time from a week to a month or more. There are advantages in longer rentals, Amon said.
Damage is usually less, the longer the renter stays.
It's more profitable to have one tenant in a month than four in a month. Some unit owners have found it best to even encourage longer-term rental, he said. They will take price cuts for longer-term tenants. There are also tax advantages and other features that give unit owners who rent some flexibility. Mortgage payments and interest, and real estate taxes can be deducted from income taxes on rental properties, Roe said.