I’m Thinking of Renting my Condo… But…

Reader Question:

I’m thinking of renting my condo, but I was wondering if their are any restrictions on renting it either on a short term or long term basis.

Just so you know, it’s close to the beach so I figure I can get a lot of money for it!

- Doug, Mt. Pleasant SC

Answer:

Hi Doug… yeah I’m telling you, living close to the beach will really help your rental rate. So I think depending on your mortgage, you can probably make a nice little profit.

You might have to check your association rules and see if there is anything that you have to do with them before you can officially rent your condo. Most of the time there is nothing, but depending on your specific condo association regime… you might have to jump through some hoops.

And you don’t want to rent it out without their permission and then get slapped with a big fine.If this is your firt time renting then I hightly suggest you brush up on the south carolina renting laws and the eviction laws. I can actually tell you from experience that evicting should be pretty easy… although you might want to double check what it’s like in Mt. Pleasant.

Other than that I really suggest you get this book on being a landlord because you need to be prepared. It can be a real pain in the butt.

The book is called The Landlords Survival Guide. It’s a great book and I actually own three of them. And I still hate all my rentals… haha.

Oh well I wish you luck Doug and hope that you can make this into a profitable venture.

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Tagged as: mt. pleasant condos renting, renting condos