Seeking Insights: Experiences with Mid-Term Rentals in HOA Communities?

[Jacob Ashworth]

Hey Bigger Pockets community!

I hope you're all doing well and enjoying your real estate journeys. Today, I wanted to tap into the wealth of knowledge and experiences here regarding mid-term rentals within HOA communities.

I'm considering investing in a property within an HOA-managed community, but I'm unsure about the feasibility and potential challenges of offering mid-term rentals (typically ranging from one to six months) in such a setting. I've done some research, but I'd love to hear from those who have firsthand experience in this area.

Here are a few specific questions I'd greatly appreciate insights on:

1. Have you ever owned or managed a property within an HOA community and offered mid-term rentals? If so, what were your experiences like? Did you face any unexpected challenges or restrictions from the HOA?
2. How supportive were the HOA board and community members towards mid-term rentals? Were there any specific rules or bylaws that impacted your ability to rent out your property for mid-term stays?
3. Did you find that mid-term rentals in an HOA community attracted a different kind of tenant or presented unique advantages compared to other rental strategies (e.g., long-term or short-term rentals)?
4. Were there any particular strategies or approaches you found effective in navigating the HOA regulations and maintaining positive relationships with the board and other community members?
5. In terms of financials, how did mid-term rentals in an HOA community perform for you? Did they generate consistent income and yield satisfactory returns on your investment?
6. Lastly, would you recommend pursuing mid-term rentals in an HOA community to fellow investors? Why or why not? Are there any red flags or considerations one should be aware of before diving in?

I understand that every HOA community can have different rules and dynamics, but hearing about your personal experiences will be invaluable in helping me make an informed decision. Feel free to share any tips, anecdotes, or cautionary tales—I'm eager to learn from your wisdom.

Thank you all in advance for your contributions and for making this forum such a fantastic resource for real estate enthusiasts. I can't wait to read your responses and continue this insightful discussion!

Best regards,

Jacob Ashworth