Whether you are buying a condo as an investment or keeping your current one when you move, renting it out can make sense, but only if the building’s rules and the numbers line up. Start with these six questions.

1. Does the association allow rentals?

Condo communities …

Condos and townhomes often appear side by side in a search, and some communities even call themselves both. The difference usually isn’t the building’s shape. It is what you own and what the association handles. Here is how to compare them.

What you own

With a condo …

When you buy a condo, you are buying two things: your unit and a share of the building around it. The homeowners association (HOA) budget tells you how that building is being cared for, and what it may cost you in the future. Here is what we look at with …