Investor Alert! Fayetteville Short Term Rental Ordinance Vote
Investor Alert! ~ Fayetteville Short Term Rental Ordinance
City Council Vote on Dec. 1 ~ Learn How This Could Affect You!
In February, the Fayetteville Planning Commission proposed an Ordinance that would make short term rentals legal in the city. Several of our members, NWA Realtors and concerned investors attended and provided input to the Commission. Others from the community expressed opposition.
Since then, several public hearings have apparently been held and a revised Ordinance will be presented for approval of the City Council on Tuesday, December 1. You can real the proposed Ordinance at:
REI NWA has some major concerns regarding this ordinance and is Calling For Action from our members. We will hold an online meeting next Tuesday to:
- Discuss the Ordinance
- Learn about concerns from local investors
- Hear from NWA Board of Realtors (NABOR)
- Determine what action need to be taken
- How to register for Online City Council Meeting
If you think the Fayetteville Ordinance doesn't affect you because live in another municipality, Beware! Our members tell us there are several other cities in NWA looking at the Fayetteville Ordinance as a model for adoption in their cities.
Logan Humphrey is an Arkansas native who built his Airbnb business while in graduate school as an additional stream of income. He founded Cohobnb, a Short-Term Rental Management company, and now manages over 50 STR properties hosting over 1,000 guests.
Concerned with STRs in NWA, Logan formed the Arkansas Short Term Rentals Alliance (ASTRA) to provide input and monitor activities related to STR measures. We urge REI NWA members to support the Alliance. You can learn more about the Alliance and join their efforts at:
The Northwest Arkansas Board of REALTORS® exists to protect the real estate rights of our members, property owners, and consumers through our commitment to advocacy, professionalism and ethical standards. NABOR operates under a charter from the National Association of REALTORS® that was issued on October 1, 1944.