Seattle real estate is still red-hot and many investors have flocked to our city. If you’re one of them, and you’re thinking about using your property as a short-term rental on sites like AirBNB or HomeAway, do your due diligence first. It’s important to familiarize yourself with the local and on-site laws affecting rental terms, zoning and city regulations.
In a recent U.S. News article, RE/MAX On Market broker/owner John Manning was quoted. As an early adopter of short-term rentals, Manning welcomes the increased oversight of the short-term rental market.
“As a short-term rental owner, I welcome it,” he says. From Manning’s perspective, government licensing not only ensures rental properties are operating within established ground rules, but also creates stability in the housing market. Without regulation, people might be quick to snap up properties to rent out, which could reduce the affordability and community atmosphere of local neighborhoods.”
It’s also worth noting that there are legal and liability costs associated with owning and operating any kind of rental.
If you have questions about short-term rentals or investing in property in Seattle or the surrounding area, we’re always happy to help. Contact us at 206-965-8205 or email a quick note to email@example.com.
Disclaimer: RE/MAX On Market is a licensed real estate agency, not an investment firm. We urge you to educate yourself on when to seek legal counsel in a real estate transaction.