Month: May 2016

Arizona Governor Doug Ducey just signed into law SB 1350 which prohibits cities and municipalities from banning short term rentals. Short term rentals have become increasingly popular in recent years with more and more people enjoying the benefits of renting a private home through websites such as Airbnb, VRBO and HomeAway. The Governor stated that his vision for Arizona included a “shared economy” in which residents can share in the tourism profit opportunity and fuel local communities directly. This is one more step forward in the billion dollar short term rental industry that has blossomed all over the globe. The evolution of peer-to-peer platforms and revenue opportunities creates new challenges for property managers and home owners. Rather that ignoring these changes, it’s important to create new policies and procedures to…

A Note to HOA's & Property Managers: Short Term Rental-Friendly Condos & ApartmentsDear Property Managers and HOAs, By now you must have heard how short term rentals are cropping up all over the globe.What started as a cost saver for larger families on vacation has morphed into an international industry. But now, short term rentals are no longer found just in resort towns. More and more we are seeing these rentals becoming popular in every community, including yours!!! Corporate seminars, personal development, extended family visits, surgery recoveries, and relocation are just a few of the reasons for staying in neighborhoods which are not traditionally considered vacation “hot spots.”In some cities, short term rental-friendly apartment complexes and condominiums are already happening.Where possible, it makes sense to consider these situations and create a way for…