Investor · Leawood, KS · Member since 2017 · 178 posts · 108 votes
We are considering renting out one unit of our duplex through Airbnb. We currently live in this unit but ready to move out to see more cash flow.
What do I need to know as far as the new air bnb restrictions that just passed?
Do I need to apply for anything before July? Is there an appeal that may extend that restriction timeline?
Love to hear what other operators are currently doing and planning to do come July. Thx!
The San Diego regulations that heavily restricted non-owner occupied STRs that was scheduled to go into affect in July have been postponed.
Here is a synopsis of events:
San Diego council passed STR regulations that heavily restricted non-owner occupied STRs. This was to go into effect this July.
Petition drive to put the issue to voters got enough signatures to place the item on the ballot.
City council rescinded their regulations pending the ballot initiative.
You should be able to find news articles on this. Currently San Diego STRs are still mostly unregulated but the negative STR environment is still in place.
I would be leery of any RE investment plan that relies on STR to succeed. However, you can try to benefit from STRs while it lasts. We have had an STR duplex since 1999 in Mission Beach. We use a PM and therefore it has required little effort to make sizeable cash flow. Our rents average ~$15k/month for the duplex, our largest expense is the PM.
@Dan H. hit the nail on the head. It was only maybe a month or two that the regulations were scheduled for next July before it got rescinded. Overwhelming negative response to the regulations. You should be in the clear to do so. As dan said about any RE investment plan that relies on STR to succeed, it doesn't sound like your investment is dependent on Airbnb success. What I read in your thread was that you just desire to seek more cash flow from the property. Good luck Ellis! Excited for you!