Condos and renting them out
I'm looking to purchase a couple of decent condos in STT. I want to live in one and rent the other one out. Does anyone know if it would be better to have regular tenants in one, or just rent to tourists?
I have a little capital and would love to make my investment work so I don't have to anymore. If I could get rent on my other property it would pay for the hoa fees on both.
You need to speak with a realtor familiar with condos. The rules and regs vary greatly among the various homeowner's associations. Some will allow you to rent short term and some will not.
One quick thought though...tourists will use electricity like it is free (because it is, to them) and long term renters will be cautious, since they are paying...