New Short Term Rental Rule in Atlanta
How do y'all feel about the new STR rule? It says that you have to purchase a license for running STRs and also can only have 2 rentals with one being your primary residence. And you have to be an Atlanta resident too.
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It's very restrictive. Likely thousands of STRs will disappear fearing fines, etc. Atlanta Hosts are counter suing to eliminate the requirement for residency and to grandfather existing properties. I'm sure Atlanta can't police STRs, but if your neighbor wants to shut you down, then they can. Hard to imagine even after all this that Atlanta will be a safe place to be a STR host.
Most of mine were converted to furnished rentals for nurses and other folks staying longer term. I've enjoyed this model more. It's also compliant.
For properties that are convenient to Atlanta, I'm going to convert them to Airbnb, where appropriate. I expect demand/profits to increase significantly.