I am currently under contract with a condo in North Palm Beach Florida that restricts the ability to lease within the first year of owning the property. A financial advisor asked me about AirBnB as a possible solution, as there is no formal lease. Has anyone encountered this as an option? I am thinking about trying this and asking for forgiveness rather then permission.
Won't work, leasing is leasing, with or without a written lease with the tenant. Especially with multiple short term tenants.
There is a lot of good deals like this in south florida .I would like to know if there is a way around it.
@David Paul: I agree with @Wayne Brooks: Won't work! And further:
"asking for forgiveness" from a South Florida HOA or Condo
Association usually gets you added legal fees for the " repercussions"
of " Skirting" the Community By-Laws and/or Rules and Regulations.
The use of a "device" as you propose also opens you up to
action from your " Occupant" for both your failure to provide the BnB
and their Experiences and trauma after being found" In residence"
without Board Approval!
Most Associations here have good Legal Resources! Especially for Enforcement of Existing By-laws, Rules and Regulations.
Best bet : Look at "Warehousing" expenses for the year and Offer
accordingly, or Look for comparable Communities without such
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@Robert Brubaker is correct, your HOA could decide to drag you over the coals for this.
Imagine the board thinking about the possibility of a Triple X freak fest (NSFW) happening in the development, while you're asking for forgiveness.
Did you go though with the deal?
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