Airbnb, short term rental regulations and the future
After recent research, I have noticed that a lot of states, counties or cities have already or will be pushing out regulations stating that:
- You have to own and live in your property to be able to list only part of your property as short term rental on Airbnb or other sites, and that part you list can not be something that can be used as a long term rental such as an English or mother-in-law basement.
- Host must also notify the neighbours and apply for a special licence and renew it every year.
- Such regulations will take effect in Montgomery county Maryland July 2018, State of Virginia and District of Columbia are also thinking about putting similar regulations in place.
- In this case, an absent owner or a renter who wishes to sublet won't be able to go around that since they won't even be able to get a licence required to legally list their room on short term rental websites.
What does this mean for people who are planning to start an Airbnb business? Game over? Moving to an Airbnb friendly state, which might still be regulated in the future? Or what else???