Vacation Home + Part-Time Rental in Downtown Memphis

[Matt Rutter]

My wife & I are looking to purchase an apartment that we can use in Downtown Memphis when we visit, but also use as a short-term rental to help provide supplemental income when we aren't there (Airbnb, private website, etc). Ideally we're looking for something Downtown, South Main, or the Pinch District.

We're seeing a lot of units listed on Airbnb, however, when we look at units in the same or surrounding properties we're seeing that a majority of the condo associations require at least a 6 month leases.

Clearly people are listing their places on Airbnb so I'm wondering how they're getting around this. The obvious answer is they either they aren't telling the condo association or the condo association / property management doesn't actually care enough to take action. 

We haven't had experience with a condo before so I'm looking to hear from others who have invest in either a condo, Memphis, or both. What action can a condo association take if you are "caught" renting your apartment for a shorter timeframe?

[Sarah Kensinger]

Don't have an answer to your question but one thing I do want to throw out there is.... You don't get anywhere doing underhanded things. Even if everyone else is getting away with it for now, doesn't mean they won't do something to stop the STR in that complex sometime.