How HOA’s Can Address Short-Term Rentals

The short-term rental phenomenon has transformed the way we travel. Websites like Airbnb and VRBO have allowed travelers to stay in more places and get an “in home” experience while they are there. While hotels can excel in luxury accommodations, short-term rentals can provide a personalized atmosphere that’s hard to beat.

There’s another side of the short-term rental craze. Homeowners associations (HOA) are finding themselves scrambling to keep up with members who are renting their units at a high rate. Some may ask, what’s the problem? Unfortunately, short-term rentals can present liability and safety concerns for properties. If a short-term tenant gets injured in a common area, an HOA may not be covered and could face a lawsuit. Short-term renters may also cause property damage and present a threat to other tenants and since they don’t live on the property, there’s less accountability.

The short-term rental trend is not going away, so it’s best to figure out how your community will address it. You can seek the guidance of Tampa HOA management companies, like Wise Property Management. Also consider the following tips:

  • Does your documents address it?: Some communities had addressed short term rentals before the dawn of Airbnb. Now it’s time to review those documents and see if your policy is in keeping with the desires of the community.
  • Poll your members: Ultimately, it comes down to what your members want. Poll them to see if they are for or against short-term rentals. Way out the pros and cons carefully. Short-term renting does have it’s benefits, but it has to be managed in order to be successful.
  • Put restrictions in place: While short-term renting can be difficult to fully control, it can be managed. Rules can be placed on how a unit is rented ( a rule requiring the entire unit be rented for example) or the number of days it can be rented. You may also require identification for all short-term renters.

For information about Tampa HOA management, please call us at (813) 968-5665, or submit our proposal request form.

SERVICE FIRST

Our founder, William C. Spivey, is a man who believes in the power of people...

LEARN MORE

FAMILY OWNED

We are a family-owned and operated company built in the Tampa Bay Area by a working-class Tampa family.

LEARN MORE

CUTTING EDGE

In today’s day and age, technological advancements are occurring at a rapid rate. These developments...

LEARN MORE

EASY TRANSITION

At WPM, we understand the sensitivity and importance of a management transition. We will proactively work in...

LEARN MORE

SEE WHAT OUR CLIENTS ARE SAYING

  • Couldn’t have asked for better service. It’s NEVER this easy dealing with property management companies. Great Job! Thanks so much!

    Brent I.

  • Cody Glass from the accounting department was very helpful and professional with a lot of courtesy to help me to understand and set up a new payment process.

    Eric F.

  • I work with Wise on a regular basis, as the nature of our business requires quick turn around times. They are kind and helpful when you need something.

    Natasha A.

  • I have always received great service from Wise. Any time I need help someone always answers the phone and directs me to the right department.

    Elaine R.

  • My name is George Florence, I am the Board President of Villas of Northdale, and I have been a Board member for 5 years now. We have had perfect help from Wise Property Management.

    George F.

  • Wise Property Management is the quintessential image of a professional, organized, comprehensive, deligent and knowledgeable Property Management company.

    Kristy D., South Pointe HOA Vice President.

  • I have been working with Jeanie Hunter of Wise Property for several years now. She has handled all our Tampa Villas South association issues promptly and with great efficiency.

    Ken C., Tampa Villas South HOA Vice President.

  • Very easy to work with and everyone is friendly. We have worked with them for a very long time and love the experience. They take pride in their work and truly enjoy what they do.

    Joey V.

  • Contact Information

  • Community Information

  • This field is for validation purposes and should be left unchanged.