Home Buying in Torrance>Question Details

Bhagwatgay, Home Buyer in Torrance, CA

We live in Michigan and want to buy a condo in the South Bay, CA area. Can we rent it out part of the time?

Asked by Bhagwatgay, Torrance, CA Wed Aug 29, 2012

Are there real estate agencies that deal with renting condos on monthly or weekly basis?

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11
Please visit http://www.xavierandxavier.comfor the latest rSouth Bay real instate information!

Thanks Sam Xavier (Formerly of Adrian, MI 1966-1988
0 votes Thank Flag Link Thu May 9, 2013
Dear Bhagwatgay,

You will need a really good :"Buyer agent' who works the South Bay area . Each development is different and some have restrictions on this type of use. Once you have committed to a Realtor, they will assist you in finding a Condo that meets your needs.
In my opinion, you might also need a "property management" company to keep your property leased to handle any maintainence issues and find short term tenants for you.
0 votes Thank Flag Link Wed Oct 3, 2012
It totally depends upon the complex and the rules set forth in their CC&R's. We always help our investment clients rent out their homes at no cost! I have a few suggestions for websites that are great for weekend rentals/weekly/daily, etc. as well.
Stephanie Hart
Broker-Associate
Forecast Realty, Inc.
310-918-6856
CA DRE 01338444
http://www.hartssellsouthbay.com
0 votes Thank Flag Link Fri Sep 7, 2012
Real estate agencies primarily deal with buying, selling, and leases. Are you talking about real estate agencies managing the rent for you? If so, no. Throw me a message on what kind of dynamics you want in the condo and I will do some window shopping for you. I will then email you the best options for a condo when it comes to the gross monthly income. There is no financial obligation, i'm here to help you.
0 votes Thank Flag Link Thu Aug 30, 2012
There is a condo/hotel on the strand in Hermosa Beach that allows the owner to live in the condo for 90 days or less per year. They work to keep it occupied the rest of the year and share in the revenue. There is one that is available at this time. Contact me and I will email you the property information.
Michael Magaw
0 votes Thank Flag Link Thu Aug 30, 2012
Great answers below. I'll add that the summer rental season is just about over and the demand won't be nearly as strong for weekly rentals until about next May or June. Definitely something to look into though and a great way to off-set your mortgage costs.
0 votes Thank Flag Link Wed Aug 29, 2012
There are some areas in the south bay work great as a vacation rental or short term rentals, but not every city allows vacation rental. I am working with a client right now to do just that. As a regular rental market, south bay is also an excellent area to own a rental property as well, but it may be difficult to rent it out part time only. I will be more than happy to speak to you more if you would like to message me as well.
0 votes Thank Flag Link Wed Aug 29, 2012
Sure you can... The rental market is hot... You will find some condominium projects with some specific rules but nevertheless is only a matter of sorting through what is available at the time you are ready. Let me know if you need any additional assistance in your search here in the South Bay Area.
Good luck...
Tony Masciotti
0 votes Thank Flag Link Wed Aug 29, 2012
There are a lot of renters out there right now, and the answer is yes. Message me and i'll be more than happy to find you a condo that fits your criteria. We can go over what the rents are in the area and determine how much bang you will get for your buck.
0 votes Thank Flag Link Wed Aug 29, 2012
Hi,

To answer your question it all depends on where you buy. Certain Homeowner's Association have rules regarding renting out your unit. For example, in Rolling Hills Estates there is a highly desirable gated community that has a rule regarding this. For the first two years you may not rent it out. If you need further assistance regarding the South Bay Real Estate market feel free to contact me.

Good luck house hunting.

Rachel Tyndall

Search all homes for sale in L.A.
http://www.Tyndallteam.com
0 votes Thank Flag Link Wed Aug 29, 2012
Thats a great question! Yes you can!! There are many people looking for vacation properties they can rent out. Everyone loves being by the beach! I just rented one out for a client in Redondo for a week. I have some great things i can run by you. Please message me an lets chat!
0 votes Thank Flag Link Wed Aug 29, 2012
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