More Short Term restrictions in the Palm Springs area
It seems that many communities in Southern California have been moving to cap the number of STRs in a given city and Palm Springs may be jumping on that bandwagon. They already have a cap on the number of total yearly bookings you can have and this would be an additional restriction to limit future STRs. So far in the Coachella Valley, Desert Hot Springs and Indio are the most relaxed cities when it comes to STR ownership. Im curious if this would turn you off to buying an STR in Palm Spring or not?
Link to the full story is below:
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If a city is going to cap the number of rentals, that should make you more likely to buy, not less. That will cap the influx of competition.