{"id":627914,"date":"2023-04-11T04:02:00","date_gmt":"2023-04-11T09:02:00","guid":{"rendered":"https:\/\/news.sellorbuyhomefast.com\/index.php\/2023\/04\/11\/nerdwallet-vacation-rental-sticker-shock-local-laws-are-having-an-impact\/"},"modified":"2023-04-11T04:02:00","modified_gmt":"2023-04-11T09:02:00","slug":"nerdwallet-vacation-rental-sticker-shock-local-laws-are-having-an-impact","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2023\/04\/11\/nerdwallet-vacation-rental-sticker-shock-local-laws-are-having-an-impact\/","title":{"rendered":"NerdWallet: Vacation-rental sticker shock? Local laws are having an impact."},"content":{"rendered":"

From Atlanta to Zion National Park in Utah, local governments are cracking down on short-term vacation rentals, such as those listed on\u00a0Airbnb
\n ABNB,
\n +2.65%<\/bg-quote><\/a>
\n and Vrbo. These regulations are often seen as a battle between hosts and neighbors, but they can impact another group: travelers.<\/p>\n

\n

These local ordinances can affect travelers in ways good and bad, limiting supply and driving up prices as well as improving oversight and safety. Yet because these rules vary from location to location, they can be dizzying to understand for tourists.<\/p>\n

Many of these regulations are popping up in surprising places: vacation destinations that saw major tourism growth in the past few years and are now overwhelmed with crowds.<\/p>\n

\u201cDestinations are looking at the sheer volume of tourism to their area,\u201d says Alexa Nota, co-founder of Rent Responsibly, an education and community platform for short-term rental hosts. \u201cAnd instead of just \u2018grow, grow, grow,\u2019 they\u2019re looking for a way to cap tourism to make it sustainable for their community.\u201d<\/p>\n

Fewer options, higher costs<\/strong><\/h6>\n

Local restrictions on short-term vacation rentals can reduce the number of available listings. When Amsterdam introduced a new licensing requirement in 2021, the capital of the Netherlands saw a sharp drop in supply of available listings, according to AirDNA, a vacation rental analytics company. Additional AirDNA data shows similar drops have played out across Sydney and Tokyo in response to tightening regulations.<\/p>\n

<\/p>\n
\n

\n <\/p>

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Demand for short-term rentals continues to grow \u2014\u00a0up about 18% year over year in the U.S., according to a February 2023 report from AirDNA.<\/h4>\n


\n AirDNA
\n <\/span>
\n <\/figcaption><\/figure>\n<\/p><\/div>\n

\u201cWe see a lot of cities putting restrictions in, which limits supply and can drive the cost of these rentals up,\u201d Nota says.<\/p>\n

Experiencing sticker shock while shopping for a vacation rental? Consider scoping nearby towns and cities, which may have fewer restrictions and more homes on the market.<\/p>\n

Don\u2019t miss: <\/strong>Amsterdam\u2019s message to young male visitors from Great Britain: Stay home<\/a><\/p>\n

Safer and more predictable rentals<\/strong><\/h6>\n

These restrictions aren\u2019t all bad for travelers, experts say. Many local laws require hosts to purchase a license, which can put operational standards in place. Just as hotels are expected to meet local codes, some vacation rentals must now do the same.<\/p>\n

\u201cA lot of counties are including some kind of safety inspection,\u201d says Tony J. Robinson, host of the \u201cReal Estate Rookie\u201d podcast. \u201cThey\u2019re checking whether, for example, if you have a hot tub, it\u2019s installed correctly. Basic safety things like that.\u201d<\/p>\n

Travelers visiting destinations with these inspections can sleep (or soak) better knowing that at least some oversight is in place. On the flip side, vacation rentals in areas with few or lax regulations remain a relative Wild West.<\/p>\n

Beyond safety concerns, local permitting and licensing requirements can also help make the experience more predictable and professional for guests. Vacation rental \u201chorror stories<\/a>\u201d are less likely when hosts have more at stake.<\/p>\n

\u201cIf you have to jump through multiple hoops for hosts and pay fees, it will weed out some of the more amateurish hosts,\u201d Robinson explains. \u201cAs that happens, the experience for guests will get better.\u201d<\/p>\n

Also see:<\/strong> I just started renting my house out on Airbnb. What income-tax deductions can I claim on this property?<\/a><\/p>\n

More rules for guests and hosts<\/strong><\/h6>\n

These regulations don\u2019t just affect the number of rentals in the community or how they\u2019re managed. They can also affect what guests can \u2014\u00a0and can\u2019t \u2014\u00a0do on property.<\/p>\n

\u201cFor guests who have previously been able to rent a home and have a party and be rowdy, it\u2019s a lot harder,\u201d Nota says, citing local laws enacted to reduce noise and parking complaints. \u201cWhen you\u2019re traveling like a local, you\u2019re living amongst locals, who expect a certain amount of peaceful enjoyment of their own homes. Make sure to follow noise and parking rules.\u201d<\/p>\n

Failure to comply could result in a fine or getting booted from your rental by your host, Nota says.<\/p>\n

Another thing to watch for: permits and licenses. Many counties require that hosts include their license number in the listing.<\/p>\n

\u201cSome cities do enforce the license,\u201d Robinson says. \u201cSo if you see them in the listings and then you find one that doesn\u2019t have it, that\u2019s a red flag.\u201d<\/p>\n

Related:<\/strong> Is that rental house for real? How to spot a scam when booking a vacation.<\/a><\/p>\n

The new normal<\/strong><\/h6>\n

In its early days, Airbnb followed the Silicon Valley motto of \u201cmove fast and break things,\u201d expanding quickly across the globe and revolutionizing how travelers lodged. Yet local communities are now trying to put things back together, enacting laws and regulations to curb some excesses.<\/p>\n

Read next:<\/strong> Revenge travel is still hot: Will prices ever let up?<\/a><\/p>\n

Whether visiting New York City or the island of\u00a0Maui<\/a>\u00a0in Hawaii, travelers are now likely to encounter vacation rental regulations. Some of these may squeeze availability, sending prices higher, but they can also ensure a modicum of safety oversight. And, of course, there are always hotels, which can\u00a0be cheaper<\/a>\u00a0in many circumstances.<\/p>\n

\u201cEvery other industry like this has regulations,\u201d says Robinson, who manages vacation rental properties in several states. \u201cI somewhat welcome them in the short-term rental space, assuming they\u2019re fair.\u201d<\/p>\n

The vacation rental industry might finally be growing up.<\/p>\n

More From NerdWallet<\/strong><\/p>\n

Sam Kemmis writes for NerdWallet. Email: sk*****<\/span>@********<\/span>et.com<\/span>. Twitter: @samsambutdif.<\/em><\/p>\n<\/p><\/div>\n

Read More<\/a>
\n Lyndia Mischke<\/p>\n","protected":false},"excerpt":{"rendered":"

From Atlanta to Zion National Park in Utah, local governments are cracking down on short-term vacation rentals, such as those listed on\u00a0Airbnb ABNB, +2.65% and Vrbo. These regulations are often seen as a battle between hosts and neighbors, but they can impact another group: travelers. These local ordinances can affect travelers in ways good and […]<\/p>\n","protected":false},"author":1,"featured_media":627915,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[534,121399,121400],"tags":[],"class_list":["post-627914","post","type-post","status-publish","format-standard","has-post-thumbnail","category-financial","category-nerdwallet","category-vacation-rental"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/627914","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=627914"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/627914\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/627915"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=627914"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=627914"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=627914"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}