Vacation Rental Bull's Eye shrinking...

[AJ Wong]

As a realtor specializing in investor friendly and often short term eligible properties, I can attest to the increasing difficulty with determining the eligibility and feasibility of permittable short term rental coastal properties along the Oregon and California Coasts. I am currently working with several clients of various budgets seeking a second home or investment that can be rented as a vacation rental when they are not vacationing. Although inventory is at the highest it's been in the past several years, the supply of potentials has never been smaller. 

Part of the reason I left LA and decided to invest in Oregon in 2018 was because of the demand for coastal vacation rentals and the openness and easiness of short term rental permits. At that time there were essentially no rules in many of the smaller town and cities, many of which have since implemented strict or limited permit application and approval processes. 

Current market conditions are a double edged sword; on one hand successful transactions are more challenging and energy intensive to identify and conduct, reciprocally the return on investment is greater. As with more advanced markets, such as many throughout Southern California, the value of a permitted, quality and well managed short term rental will continue to increase as the barriers to entry solidify. 

On the Oregon Coast the nuances of short term rental property permitting are so particular that it requires intimate knowledge and relationships with the appropriate jurisdictions to reliably navigate.

For reference at any given moment along the 363 miles of the majestic Oregon Coast there are essentially a handful of active single family and/or multi unit properties that are both eligible for a STR permit and project as profitable.

Happy hunting! 

[Bruce Woodruff]

Quote from @AJ Wong:

Quote from @Bruce Woodruff:

What about searching outside these very restrictive states?

 Examples? 

Generally speaking the 'Red' states instead of the "Bluer' ones tend to be less restrictive. And there are incredible markets all over. AZ, Utah, TX, Ozarks, Anywhere in the South......