As modern consumers, we are blessed with infinite information with regards to our buying decisions. From online reviews to in depth blog articles, we can research as much or as little as we want on just about anything we purchase. Why as a society do we spend hours researching the the largely inconsequential items such as shoes or backyard patio furniture, but virtually no time researching the very consequential items [...]
Both Airbnb & Vrbo promote their "free" liability insurance which extends to all bookings via their platforms. However, both specifically exclude violations of privacy, as seen below. EXCLUSIONS - Personal and Advertising Injury: Injury or alleged injury caused by slander, libel, violations of privacy, advertising, or wrongful eviction. If their free liability insurance does NOT COVER any potential liability exposure for invasion or violation of privacy, such as Airbnb security [...]
The Burlington, Vermont City Council passed the new ordinance on February 22nd, 2022. The hope behind the new ordinance is to curtail the practice of buying properties that will be strictly used as investment properties and short-term rentals. The Vermont Short-Term Rental Association states that this ordinance prohibits any STR that is not a sublet of the owner’s or tenant’s primary residence unless another unit under the host’s ownership [...]
Getting into the world of real estate investment and short-term rentals can be a great way to establish an additional income line while also building relationships with members of your community. How many times have you thought about investing in a short-term rental, but you didn’t know where to start? Platforms like Airbnb, TripAdvisor, and Vrbo have revolutionized the vacation industry, allowing everyday people to operate their own private [...]
On January 27th the Paradise Valley City Council passed new amendments to the Short-Term Rental Code. The new vacation rental laws were enacted in hopes of minimizing nuisance complaints, protecting health and safety, and prohibiting the use of vacation rentals for inappropriate uses. NEW Short-Term Rental Laws for Paradise Valley, Arizona There are many new changes and additions to the Paradise Valley, Arizona Short-Term Rental Ordinance. Below are some [...]
This past December, Chula Vista, California passed a new short-term rental ordinance and certain sections of this regulation went into effect on February 1st. One of the sections that took effect February 1st is Section 5.68.110 - Operational Requirements. This includes items such as 2-day minimum stays, safety requirements, insurance, quiet hours, maximum occupancies, and more. It’s important to understand the new regulations and ensure that you’re in compliance [...]
So you’ve decided to add vacation rentals to your investment portfolio. Proper has a great, comprehensive insurance solution for you. But, what about financing? This article lays out your basic financing options to start and grow your vacation rental portfolio. Vacation Rental Financing Solutions You have five main options to finance the purchase of vacation rental property: Second home loan, agency investment property loan, jumbo loan, bank loan, or [...]
This past week, the Washoe County Board of Commissioners held a meeting, where the Planning Staff provided a presentation on vacation rentals. This presentation included overviews of programming, compliance status, and suggested revisions for the future of vacation rentals in the area. The first reading of a new ordinance will take place in March of 2022 and if it continues to get adopted this will be in May of [...]
Blue Earth County, Minnesota has recently implemented new regulations for short-term rentals in rural areas. After complaints regarding how poorly vacation rentals are being operated, the county realized that something had to be done about it. The new ordinance now includes application requirements, as well as a $700 fee. All vacation rentals operating prior to the effective date of the standards outlined in the New Ordinance shall be in [...]
Hot Springs, Arkansas has passed new vacation rental regulations that took effect January 4th, 2022. Since last March, the City has been continuously working on rules and regulations for the growing business of short-term rentals. After several complaints filed from neighbors in highly populated areas, they realized it was time to step in and create regulations. There are many new rules, being that this is the first set of [...]
