In his second article on short-term rentals, real estate attorney David Petersen breaks down the impact of vacation rentals on permanent housing. https://lnkd.in/gGfzT3vh
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This is Part 2 of my three-part series on vacation rental myths.
In his second article on short-term rentals, real estate attorney David Petersen breaks down the impact of vacation rentals on permanent housing. https://lnkd.in/gGfzT3vh
Vacation Rentals Have Little Influence on Permanent Housing in Oregon
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Maps of vacation rentals in San Diego are fueling a fiery debate about the city's housing crisis Contact me to discuss the latest scoop in real estate! #HomeSelling #RealEstateTips #PeakMonth #USRealEstate #RealEstate #PropertyMarket #HomeBuying #InvestmentTips #MortgageShopping #CreditScore
Maps of vacation rentals in San Diego are fueling a fiery debate about the city's housing crisis
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😟 Being a landlord does not need to be stressful. Long-term rentals offer a low-stress and stable alternative to vacation rentals. Check out our latest blog to learn why. 🏡 https://bit.ly/3yHSjZi #ferguson #fergusonpm #propertymangement #rentals #investments #passiveincome #longtermrental #vacationrental
Long-Term Rentals vs Vacation Rentals: Opt for Long-Term Rental Stability - Ferguson Property Managment
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A high-touch Ukraine lawyer, Real estate agent, SEO specialist known for his extensive market knowledge and his unmatched devotion to clients, my success is based almost exclusively on positive referrals.
Will Short-Term Rentals Have a Good Year? It Depends—Here’s What You Need to Know Many economic factors affect the STR market, from occupancy rates in specific markets to ever-changing rules and regulations of the short-term rental sector. As part of our State of Real Estate Investing Report, we dive deeper into all of these factors one by one. Every STR investor bases the profitability of an STR on how much they can get for their rental per night. According to the report, the average daily rate prognosis for 2024 is, at the very least, flat but likely trending toward growth. This is because the economy overall is showing signs of stabilizing. Macroeconomic factors play into this, too: With oil prices and currency exchange rates showing signs of evening out, STR investors can look forward to greater predictability in daily rates. Julie Brinkman, CEO of STR management platform Beyond, predicts, ‘‘If the vacation rental property manager and host are systematically staying on top of demand, they will […] see flat to higher average daily rates (ADRs) year over year.’’ Vacancy This brings us to the next major factor in STR investment success: vacancy rates. Gauging demand correctly is crucial for any STR investor; unexpectedly high vacancy rates can spell disaster. What can investors expect on this front in 2024? Brinkman believes that increased occupancy is ‘‘certain’’ for hosts and landlords who have properties in in-demand areas. However, other experts are advising STR investors to temper their expectations. Beyond’s director of revenue management, Jeffrey Breece, predicts an ‘‘incredibly average’’ year in terms of STR demand. In a sense, though, this averageness may well be the most valuable thing about 2024: It will help landlords reestablish what normal vacancy rates look like post-pandemic. Breece believes that 2024 will be ‘‘the new baseline year,’’ replacing 2019, as pent-up demand for travel from the pandemic finally dissipates. Therefore, investors new to the STR market should use 2024 as a blueprint for what they can expect in the coming years. One thing STR investors don’t need to worry about so much is any further decline in occupancy rates. David Kelso, co-founder and CTO of Beyond, believes that the 2023 situation in which supply outstripped demand for vacation rentals was ‘‘an anomaly’’ and won’t be repeated in 2024. Even if demand for STRs doesn’t grow massively next year, the supply-demand balance will likely stabilize.
Will Short-Term Rentals Have a Good Year? It Depends—Here’s What You Need to Know
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Check out the recent Redfin article we were featured in: #realestate #propertymanagement #rentals #rentalsolutions #checklists https://lnkd.in/eCWdEHFB
A Vacation Rental Deep Cleaning Checklist for the Spring
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A good reminder that all data counts- including that which is hidden in footnotes when it comes to political agendas. For example Boulder County, Colorado that is re-doing their STR Ordinance, to become more restrictive, following a two-year study process. Findings summary noted in the footnote on p.4 acknowledges: "Staff also reviewed studies that concluded that short-term and vacation rentals did not significantly impact housing stock and housing affordability. Although their findings were inconsistent with other studies, information provided in the reports was still considered by staff.". Yet that comment failed to make it's way into the main document. From the article, Boulder County residents passionate about proposed short-term, vacation rental changes: "A memo for Tuesday’s meeting cited research showing that short-term and vacation rentals, including Airbnb rentals, can affect housing stock and make homes less affordable. Multiple studies have documented that home-sharing has driven up rental rates and house prices and reallocated some long-term rental stock to the short-term rental market." https://lnkd.in/gsBr_An7 Memo: https://lnkd.in/g3yj6XTf
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Success with Short-Term Rentals: A Real Estate Investor’s Story
Success with Short-Term Rentals: A Real Estate Investor’s Story
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Results of national housing affordability study from Vacation Rental Management Association (VRMA) are in. "Results from the study that analyzed data during the 2014-2021 period show that short-term vacation rental density contributed only 0.4% of the 32.7% national growth in housing prices and 0.5% of the 9.9% increase in rents." https://lnkd.in/e8AM6Snn
Vacation Rental Management Association Announces National Housing Affordability Study
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Like many cities with neighborhoods unhappy with short-term rentals, Rancho Mirage issued a ban on the practice. In this suit by a group of short-term rental owners, Vacation Rental Owners & Neighbors of Rancho Mirage v. City of Rancho Mirage (D4d2 Dec. 15, 2023 No. E078784) [nonpub. opn.], the trial court issued a preliminary injunction and, when the city failed to comply, hit the city with attorneys' fees. The city, represented by experienced appellate specialists, knew there is no direct appeal from a contempt order, so they filed a writ petition. As for the fee award, there is a good argument, supported indirectly by published cases, that it is directly appealable. But just to be safe, the city took a writ on that, too. The Court of Appeal summarily denied both writ petitions. So the fees issue went forward. But in a surprising opinion, the Court of Appeal dismissed the fee appeal and nonappealable. The city set up some good arguments, but the court knocked them all down. Comment: I found this opinion surprising because the attorneys' fees order here fits the definition of an appealable collateral order as neatly as anything could. Yet there is not a whisper of it in the opinion. I cannot imagine the city’s counsel did not argue the collateral order doctrine. I have seen the Court of Appeal simply ignore arguments why it should dismiss an appeal. Here, the court ignored an argument why it should not dismiss. I would like to have been a fly on the wall of the conference in this one. #AppellateLinkedIn This is a summary. Read the full article at the KowalLawGroup.com blog here: https://lnkd.in/g6EbCeU3 Get “Not To Be Published,” a weekly digest of these articles, delivered to your inbox by subscribing here: https://lnkd.in/gcb39P2f.
In fight over short-term rentals, City could not challenge contempt fees either as an appeal or writ
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https://lnkd.in/gFSVqH9g 🏠✨Move Smarter, Without the Stress 🔎Find out how to navigate the process of selling your house before buying a new one. Explore options like furnished apartments, vacation rentals, and month-to-month leases, which can help you get acquainted with your neighborhood. Learn about adding a contingency to your purchase offer to protect yourself in case your previous home doesn't sell. Discover the pros and cons of these tactics in the current market. #MoveSmart #FurnishedLiving #KnowYourNeighborhood #ContingencyPlan #HousingOptions #RealEstateTips #MarketInsights #HomeSelling #SmoothTransition #HomebuyingAdvice #EastBayRealtor #BayAreaRealtor
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