Can NYC Condo rent as Short Term Furnish Rentals?
We have many investor condo owners asked us this question. The simple answer is, it depends on the condo building's house rules. We often represent many investor condo owners to secure qualified tenants so we have many experiences with different condo building and each building has different criteria and policies.
When trying to rent out Manhattan condo buildings, it is importan to keep in mind that buildings have their own house rules that list all the regulations such as what is the minimum terms of a lease (12 months or shorter), pet policy (dog or cat, pet weight), renovation policy and etc. Many of the condo buildings will required the owner to rent the unit minimum of 6 months to 12 months, this way they can keep the building quality of living higher and able to control the occupants and who is coming and going out of the condo building.
Generally, the weekly rental will not allowed in traditional condo buildings since the building prefer not to have too much of transient stays. We also recommend the owners to rent the condo for 12 months to keep the rental income on the steady and consistent basis.
If you are a condo owner, and looking to have strong and experienced agents representing you in finding the right tenant
Contact us today at Morgan.Evans@elliman.com and we can discuss how to maximize your rental investment. Or call us (917)837-8869
Below are other New York city condo related helpful information for condo owners: