If I were to buy this and rent it out, does the association, HOA, or any other entity take a 'cut' of the rental price?

Asked by Jo, Fort Collins, CO Mon Mar 29, 2010

I am looking to purchase a couple of cabins or townhomes or smaller homes to rent out as short term rentals and to possibly live in one of them in Estes. I currently live in F. Collins.
Thank you
Joann

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3
Gerald Mayo, Agent, Estes Park, CO
Mon Mar 29, 2010
Joann,

I believe that Sam has answered your question. This particular property you can manage yourself. There are other condo's in Estes Park that are the same. The majority of "Vacation Rentals" - or nightly rentals would require a management company in many of the associations.

There are many available properties where you can manage them yourself, many properties that do not allow short term rentals at all, and some properties that do not require you to rent them out, but if you do you have to use thier on site property management company.

I hope this helps you.

Gerald Mayo GRI, CRS, CIPS, SFR, MBA
Broker/Owner
Prudential Team Realty
0 votes
Sam Basel, Agent, Estes Park, CO
Mon Mar 29, 2010
Joann,
On this particular property, the only other entity that would take a 'cut' of the proceeds would be the management company. If you choose not to use a management company and rent it out yourself, then you would keep all the rental income for yourself.

This particular property allows long term rentals, short term rentals, full time occupancy, and even has an option for time shares. If you would like a copy of the association covenants and restrictions, please let me know. I would be happy to send them to you.

If you are interested, I can also recommend a couple of local property managers in town.
0 votes
Cory Fitzsim…, Agent, Golden, CO
Mon Mar 29, 2010
Joann,

Unless you have a management company and you build in the HOA fees into rent you should be good. Be sure to check the HOA docs to see if they allow non-owner occupants (renters). Good luck.
Web Reference:  http://www.housefitz.com
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