Quote:
Originally Posted by sleepingmoose
There’s also a lot of cities in the sunbelt that are heavily restricting short term vacation rentals 30 days or less (for example, around Palm Springs) in a way that makes it very difficult. It may not be a big deal depending on your intentions, but it’s a very different business model - it’s less vacationers and more geared towards snowbirds staying for months on end. It also makes it harder to slot in time for yourself.
Just do your research before getting too far down the road.
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Short-term rentals have become a very hot topic are being banned in a lot of the attractive markets. I know here in Phoenix every municipality is adopting or investigating adopting new ordinances that will make short-term rentals hard to own and harder to rent. The outcry from communities after short-term rentals turn into party houses during major events has become deafening and municipalities are listening. They are also looking at the revenue generated from those properties and looking for their cut of those revenues through additional taxes and fees. Like sleepingmoose said, do your research, know your market well, know the laws and ordinances, and know how your revenue is taxed. Real estate can be a great investment, but I would be hesitant to get involved in a property if the goal is to use it as a short-term rental.