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Property investors rode a wild wave during the pandemic, with the short-term rental market stopping, then restarting, and property prices in many second-home markets soaring. What does the future hold for new second-homeowners and for managers of more robust property portfolios? We’ll explore that and more, all May long, at Inman.
With the advent of short-term rental platforms like Airbnb in the late aughts, suddenly the average person with an unrelated day job could potentially live out their dream of running a bed and breakfast.
A burgeoning online short-term rental community and a variety of platforms to support their businesses helped many individuals grow side gigs into full-time businesses as short-term stays started to pop up on travelers’ radar. Now, it’s not uncommon for individuals to earn most of their income from these properties.
In response to the town of Breckenridge’s suggested short-term rental moratorium, a group of community members and local officials created a coalition at the beginning of March to find housing solutions for the workforce.
Part of the coalition’s mission is to gather information about how property owners, particularly second-home owners, use their property. To do this, the coalition launched a survey April 16, which has garnered nearly 3,000 responses. The deadline to take the survey is 5 p.m. Friday, May 7.
The group was started by Toby Babich, president and CEO of Breckenridge Resort Managers and president of the Vacation Rental Management Association. Other group members include Summit County Commissioner Tamara Pogue and Summit Realtors Executive Director Sarah Thorsteinson.
If one Florida senator gets his way, local governments may soon lose control over one ever-expanding industry: short-term rentals.
Florida Senate Bill 522 was filed by Sen. Manny Diaz Jr., R-Hialeah Gardens, in January and has been referred to the Regulated Industries, Commerce and Tourism and Rules committees.
The bill essentially turns over the regulation, licensing and inspection of the short-term rental industry to the state, removing layers of control that currently exist at the city and county level.
An identical bill was filed in the House in January. The regular session starts March 2.
Diaz did not return multiple requests for comment.
LAKELAND If one Florida senator gets his way, local governments may soon lose control over one ever-expanding industry: short-term rentals.
Florida Senate Bill 522 was filed by Sen. Manny Diaz Jr., R-Hialeah Gardens, in January and has been referred to the regulated industries, commerce and tourism and rules committees.
The bill essentially turns over the regulation, licensing and inspection of the short-term rental industry to the state, removing layers of control that currently exist at the city and county level.
An identical bill was filed in the House in January. The regular session starts March 2.
Diaz did not return multiple requests for comment.