What is the significance of Minimum Days Lease in a condo?
A. Condo associations each have a rule in the by-laws specifying the shortest period of time a unit in the condo complex can be rented. Some allow rentals for as little as overnight. Others say a condo can be rented for 7 days or more. The majority of condo associations require longer rental periods like 30 day minimum, 90 day, even 1 year minimum rental periods. A few even specify a period you must own a unit before you can rent it. The rule about ‘Minimum Days Lease’ helps define the nature of residency at a condo complex. Those allowing short rental periods will have a lot of vacationers there. This is good if you want to generate rental income from a condo to help pay its expenses. It’s bad if you want a stable community of neighbors. The reverse is true of condos that require longer rental periods. You’ll get to know your neighbors and establish friendships but you won’t generate as much income as the vacation rentals do. You prioritize whether income or a quiet stable community i
