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Sally Faubion, Home Buyer in San Francisco, CA

If I purchase a co-op apartment, can I rent it out to a tenant?

Asked by Sally Faubion, San Francisco, CA Sun Dec 30, 2007

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Coops have rules about renting units. For instance 1750 Taylor, The Royal Towers, allows a unit to be rented one year out of the entire time you own it. Many coops don't allow any rentals. We are familiar with most coops rules. Let us know if you have a specific coop in mind.
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1 vote Thank Flag Link Sun Dec 30, 2007
Dear Sally,

All of the answers are correct. You need to hook up with an agent to assist you in finding a cooperative or a condo that has rules about rentals that fit your needs. Coops are the toughest, although many condo complexes also have rules about short term rentals, one year leases, etc. Any way I can help, please feel free to call on me.

Happy New Year!
Sally
0 votes Thank Flag Link Mon Dec 31, 2007
Hi Sally,
Most Stock cooperatives here in San Francisco -- we only have a handful -- don't allow an owner to rent out. Also they are older buildings and therefore fall under rent control. Also, each condo building has it's own rules and restrictions that can include restrictions on renting out -- for example rentals must be at least a year lease, or six months in some cases, whereas others can work for a corporate short term furnished business model. Hope that helps. Kevin is right, you have to read through all the disclosures closely to understand how the building is run, and your Realtor will know and be able to guide you in that as well. Good luck!
0 votes Thank Flag Link Sun Dec 30, 2007
Hi Sally,

Co-op apartments have rules and regulations about renting units. The rules can be strict or may have certain terms, for example a unit can only be rented for a set period of time and then not rented again for another "x" amount of years. When you are doing your due diligence with your realtor, be certain to read all the co-op or in the instance of a condo all association documents. Ask questions too to make certain you understand all the possible ins and outs of your purchase.

Kevin
0 votes Thank Flag Link Sun Dec 30, 2007
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