Investing in Condo in Arizona

[Dareen Allie]

How do you guys feel about investing in condos and townhomes in Arizona. I’ve heard at any time they can refuse to allow renting, which is a bummer.

[Brendan Miller]

@Dareen Allie I think it highly depends on the HOA that governs the property and what their CC&Rs are as it relates to renting. I just sold a condo property that I owned for 5 years and it was a very good investment for me with little to no HOA related issues. The HOA was well managed which is a big factor. If you are doing STRs then I would definitely vet that HOA guidelines. As for rentals, my specific building didn't restrict rentals or STRs for that matter. Typically if you have a real estate agent you're working with, then they can find out pretty easily from the listing agent whether or not there are HOA restrictions (if it isn't already disclosed in the MLS listing).