LA county condo Airbnb STR or corporate housing

[Valentine O.]

I am a new to real estate investing and would like to purchase a 1 bedroom 1 bath condo in LA county. Currently looking at Culver city, El Segundo, Santa Monica, Manhattan beach, Hermosa beach, Torrance and Sherman oaks. I see that a lot of the condo laws prevent STR's. Any recommendation on the locations, will corporate housing be a better option.

[Marshall Leipprandt]

@Valentine Okonkwo Hey Valentine, I’m an investor and real estate agent covering the South Bay here in LA and most cities around here have 30 day minimums (I know this is the case particularly for Manhattan Beach and Hermosa Beach). Torrance, Culver City, and Santa Monica may have slightly different rules, but this minimum 30 day rental law would be your first hurdle.

The next hurdle could be, as you mentioned, the condo association rules. These rules may mirror the city's regulation or in fact be stricter. Your best bet may be to do corporate housing or marketing to travel nurses assuming you stay within the compliance of the city and your HOA rules, respectively. The great thing about LA is that there are many niches to be filled in terms of housing, so if you can find one that works for you and is profitable, it could be a great business.

[Rick Albert]

Marshall is correct, most have rental restrictions for timeline and if they don't, assume they will at some point. I've even see year leases required.

Some condo complexes will want copies of the lease. 

Whenever dealing with condos, the short term game (even month-to-month with different tenants) can be tricky and you can trigger the discussion for the HOA board.

Conversely, if you have a condo that faces the street, then MAYBE you can get away with it as it is less foot traffic in the complex. It ultimately comes down to neighbors complaining. For some it is a safety issue giving new people access every month. 

[Erik B.]

You're good for STR's in Long Beach. As others have mentioned, be extra careful with properties with HOAs