Rental Income Is Here To Stay
Fantastic! Airbnb and short-term rentals are here to stay... for now.. Great news for many home-owners looking for an additional revenue stream and for some homeowners an affordable living solution.
According to the article Wednesday July 10, 2019 in The San Diego Union-Tribune, a state bill that would have seriously curtailed the short-term rental opportunity of homes in San Diego was put on hold for a year. This is good news for property owners!
Good job to all the heavyweights like Airbnb, HomeAway and VRBO who were very persistent that the legislation to stop short term rentals would have had a devastating impact on the region’s tourism as I couldn’t agree more. However, in my opinion the more important point they made is that it seriously barred homeowners of second homes from renting out their properties for short-term stays.
I am all for the heavy lobbying to keep this decision on hold indefinitely… as I believe it’s an infringement on property owners right to live and use their properties to their highest and best use. One being short-term rentals truly provides a necessary revenue stream for many property owners not just for great investment ROI but almost more importantly for affordable housing. With the continued increase in cost of living, the ability to short-term rent out a property as owners gives them an a great option in times of financial hardship, or just meeting the day-in & day-out high costs of living in San Diego. Additionally I completely agree that the option needs to remain for additional revenue streams as investors and homeowners.
There is a ton of great information and reporting on this topic. Click here to Read more.