Hello! Thank you so much for the help. We are looking to get an airbnb in Portland. I noticed the laws that seem to say that you need to reside in the residence (either in the house, the other side of a duplex, or on the same lot) for at least 9 months of the year. Does this mean that most properties would not comply with this? Thanks!
Any reason you decided on Portland? While I absolutely love the city, if you are looking at it for Short Term Rentals and ARE NOT living in it, then you may want to reconsider.
My wife and I have properties out of city, but we also do Airbnb the extra rooms in our house for extra Cash Flow. In this circumstance, it sounds like it would work within those laws because it is also our primary residence.
Real Estate Agent and Airbnb Superhost
@Noah Weitzman Inner city AirBnB is risky. Make sure it’ll cash flow when you’re forced to put a long term tenant in there.
Why not San Marcos it’s right in your back yard and gets a lot of traffic
I’m not sure why an “inner-city property” would be more risky than say a rural property. Quite the opposite actually.
Portland does have some stiff short term rental regulations. You or a long term resident (with proof of residency in the form of a drivers license) does need to reside on the property 9 months out of the year to get a permit.
Portland is becoming a bigger tourism hub (Japan even has a Portland mascot) so short term rentals are hot. On the other hand the pricing is getting pushed down due to Airbnb suggested pricing algorithms, high competition, stringent permitting regulations, harsh penalties. There’s the good and the bad of it all.
Thanks everyone for all the help! Portland because we may move there and are in the process of purchasing an airbnb property so wanted to see if it was an option. @Lucas Carl San Marcos seems like a great place to invest but we have been focused on Waco, TX. San Marcos with its proximity to Austin (the most airbnb unfriendly place in the world) scares me and I wonder if the laws may spill over to there in the near future.
(In my personal opinion)--Don't offset Out-of-State Airbnbs if you are trying to purchase one strictly for that. It does take some ground work, and sometimes a couple flights, but you can find ones that offer great returns and are in line with city laws. Where you planning on doing it out of your primary residence?