Be careful when you acquire your short-term rental properties and make sure you know the prevailing laws and rules in the area you’re investing in. Many cities and municipalities are changing their perspective on short-term rentals and putting restrictions in place that may affect your bottom line.
It helps to work with these cities, their decision-makers, and elected officials to educate them on the benefits of short-term rentals. The better your relationship is with your community and neighbors, the better your chances for success.
Recently at the annual RPOA conference we hosted a panel to discuss these matters.
Ryan Servatius has been in real estate for over 20 years, and sits on the NAR national committee for Resort & Second Home Property Specialists, as well as the State & Local Issues Policy Committee.
Ryan owns and operates Big Blue Rentals, managing vacation rental properties in Southwest Michigan, based in South Haven.
Brian Westrin serves as Michigan Realtors® General Counsel. His role encompasses a concentration in fair housing law and education, RESPA compliance and education, policing unlicensed real estate practice, mortgage fraud, and publications.
Brian is also an active lobbyist at the capitol in Lansing. Brian also facilitates meetings of the Realtors® Legal Action Committee and handles all requests made for legal action fund assistance.
Today’s episode is brought to you by Green Property Management, managing everything from single family homes to apartment complexes in the West Michigan area.
https://www.livegreenlocal.com
And RCB & Associates, helping Michigan-based real estate investors and small business owners navigate the complex world of health insurance and Medicare benefits.