Lesson learned: Why I now check building rules before running numbers

[Samuel James]

Early on, I wasted hours underwriting units that looked perfect financially, only to later discover short-term rental restrictions at the building level.

Now I reverse the process:

1. Building rules first

2. Landlord flexibility second

3. Numbers last

It’s cut my deal vetting time significantly. Thought I’d share in case it helps someone else avoid the same mistake.

[Andrew Steffens]

I recommend starting at the city level for restrictions, then going to HOA rules, then looking at the individual unit level. This is where I think working with a local agent with STR experience comes in handy. I know the city and most of the HOA's rules by memory and can save my clients time and potentially money.