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Old 05-10-2021, 04:16 PM
 
14 posts, read 9,151 times
Reputation: 25

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I have a friend moving here from out of state. He would like to purchase a condo in a desirable vacation location such as south Scottsdale or Old Town area, live in it for 1-2 years and then turn it into an AirBnb rental. I know a lot of HOAs have a strict policy on this and do not allow nightly rentals. Does anybody know of any condo communities that do allow it?
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Old 05-10-2021, 08:54 PM
 
28 posts, read 18,121 times
Reputation: 148
I wish him good luck as this is a risky move. Most condo communities have strict short-term rental laws and many are moving from 30-day minimum to 90 day minimums with massive fines for the first violation. Even if he buys into a community now that allows it, most owners despise short-term rental and are changing CC&R's to prevent this.
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Old 05-11-2021, 12:23 PM
Status: "Respect for law enforcement since 1953" (set 29 days ago)
 
Location: Scottsdale, AZ and Redwood City, CA
11,829 posts, read 7,875,931 times
Reputation: 42625
Quote:
Originally Posted by Pink378 View Post
I have a friend moving here from out of state. He would like to purchase a condo in a desirable vacation location such as south Scottsdale or Old Town area, live in it for 1-2 years and then turn it into an AirBnb rental. I know a lot of HOAs have a strict policy on this and do not allow nightly rentals. Does anybody know of any condo communities that do allow it?
Doesn't matter even if a condo development allows it.

Your friend should check out Scottsdale's ordinance on short-term rentals before plunking down any money. A boatload of partiers ruined the Airbnb scene here for everyone else. Rentals are required to be registered with the City and the owner has to pay taxes. In addition, if your friend's short-term tenants create a ruckus he'll be reported to Code Enforcement.

All vacation and short-term rentals in Scottsdale are required to pay both Transaction Privilege Sales Tax and a Transient Tax (commonly referred to as a bed tax) – both of which are collected by the State of Arizona. In order to engage in, or continue a property rental business, a Transaction Privilege (Sales) Tax license with the State of Arizona Department of Revenue is required. It is the property owner's responsibility to make an application and obtain a license with the Arizona Department of Revenue.
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Old 05-11-2021, 12:27 PM
 
14 posts, read 9,151 times
Reputation: 25
Quote:
Originally Posted by fluffythewondercat View Post
Doesn't matter even if a condo development allows it.

Your friend should check out Scottsdale's ordinance on short-term rentals before plunking down any money. A boatload of partiers ruined the Airbnb scene here for everyone else. Rentals are required to be registered with the City and the owner has to pay taxes. In addition, if your friend's short-term tenants create a ruckus he'll be reported to Code Enforcement.

All vacation and short-term rentals in Scottsdale are required to pay both Transaction Privilege Sales Tax and a Transient Tax (commonly referred to as a bed tax) – both of which are collected by the State of Arizona. In order to engage in, or continue a property rental business, a Transaction Privilege (Sales) Tax license with the State of Arizona Department of Revenue is required. It is the property owner's responsibility to make an application and obtain a license with the Arizona Department of Revenue.
Yes, he is aware of all this.
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Old 05-11-2021, 12:50 PM
Status: "Respect for law enforcement since 1953" (set 29 days ago)
 
Location: Scottsdale, AZ and Redwood City, CA
11,829 posts, read 7,875,931 times
Reputation: 42625
Quote:
Originally Posted by Pink378 View Post
Yes, he is aware of all this.

How does he plan to ensure his renters don't disturb others?
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Old 05-11-2021, 05:16 PM
 
1,681 posts, read 1,525,619 times
Reputation: 1803
Quote:
Originally Posted by Pink378 View Post
I have a friend moving here from out of state. He would like to purchase a condo in a desirable vacation location such as south Scottsdale or Old Town area, live in it for 1-2 years and then turn it into an AirBnb rental. I know a lot of HOAs have a strict policy on this and do not allow nightly rentals. Does anybody know of any condo communities that do allow it?

Tell your friend to stay away.

No one will want someone planning to go the BNB route, and apart from condo restrictions, they are discussing actual city laws curtailing BNB.

Actually, your friend sounds foolish, and I don't know why he'd first live, then BNB.
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Old 05-11-2021, 07:33 PM
 
14 posts, read 9,151 times
Reputation: 25
Quote:
Originally Posted by Voebe View Post

Actually, your friend sounds foolish, and I don't know why he'd first live, then BNB.
Because mortgage rates are cheaper and easier to qualify for if he uses it for his primary residence. After living in it for 2 years he would buy a new place and repeat.
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Old 05-12-2021, 12:06 AM
 
879 posts, read 1,046,608 times
Reputation: 363
I think a realtor might be able to offer better guidance than you've received here so far.
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Old 05-12-2021, 12:24 PM
 
14 posts, read 9,151 times
Reputation: 25
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Originally Posted by gsm113 View Post
I think a realtor might be able to offer better guidance than you've received here so far.
I'm beginning to think so too.
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Old 05-13-2021, 10:04 PM
 
Location: East Central Phoenix
6,871 posts, read 10,040,223 times
Reputation: 8109
Quote:
Originally Posted by Voebe View Post
Tell your friend to stay away.

No one will want someone planning to go the BNB route, and apart from condo restrictions, they are discussing actual city laws curtailing BNB.

Actually, your friend sounds foolish, and I don't know why he'd first live, then BNB.
Also, AirBnB rentals tend to be ridiculously inexpensive to the point where they attract a sketchy crowd. Cheap attracts cheap, and never in a good way.
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