Many condominium corporations have had to struggle with owners (or occupants) leasing their units on short-term basis, through AirBNB or other similar short-term rental organizations. These kinds of rentals increase traffic and the burden on the rest of the condominium community, while reducing the safety and security of all. This post aims at providing corporations with some guidance as to what they can do to control and prevent such short-term leases.
AirBNB and other similar providers are web-based businesses providing an alternative to hotel accommodations by connecting out-of-town travelers to owners who want to rent out their homes. These rentals are usually for short periods of time (often only for a few nights at a time). These arrangements constitute a real bargain for the traveler (be it tourist or business traveler) as they obtain a fully furnished and all-inclusive home at rates which are usually cheaper than those of hotels. These short-term leases can be very lucrative for the owners who are able to generate far more income on their unit than if the unit was leased for the year.
