Airbnb, condo owners, and condo associations .. issues

I agree, Airbnb and other services like it such as Uber are going to stick around long term. Airbnb has been an amazing experiment and has benefited travelers as well as home owners.

 

However, over the coming years there will likely be increased regulations for this part of the shared economy and this has started at the local level. The first major contest is currently occurring between condo owners and their condo association. Most condo association by-laws were not created with rules for sharing services such as Airbnb in mind. Therefore, condo association by-laws are starting to change to prevent or regulate the usage of room sharing concepts such as Airbnb. The by-laws usually have rules in place that regulate the leasing out of individual units, but they are just starting to focus on Airbnb type arrangements.
I found the article below about the battle between condo owners who use Airbnb and the reaction from their associations. “Condo associations are scrambling to update their rules to clarify when owners can sublet units, in many cases expressly forbidding the kind of short-term rentals found on Airbnb and even house swaps, where money isn’t exchanged.”

 

Condo boards slap hefty fines on neighbors for Airbnb rentals

 

For those of you who are looking to purchase a condo in the Greater Boston area, pay greater attention to the by-laws for the condo association where you are looking to purchase a unit.

Willard Realty Group can make a big difference to your wallet to make a purchase. We will rebate 30-40% of our commission to you if you close with us! See our buyer rebate.