Anyone familiar with the STR market in upper Michigan?

[Glenn Gruschow]

My girlfriend and I are interested in buying into the upper Michigan STR markets (Traverse City, Charlevoix, Petoskey, Bay Harbor, etc), hoping we can take advantage of the hot vacation rental market up there in the summers and the popular ski slopes for the winters. Curious if anyone has had any luck in this area. I know some markets like Traverse City and Charlevoix are imposing STR ordinances to control the number of rental properties which is a bit concerning.

[Melissa Wesling]

Hi @Glenn Gruschow! My STRs are in lower Michigan but I have done research and know investors who have STRs in the Traverse City area. It's a great market as it tends to draw guests year round. Like you mentioned, be aware of the short-term rental regulations through the city but also pay close attention if there is an HOA. The HOA may have some fine print about rentals less than 30 days. A friend was renting out her cabin in Harbor Springs and then HOA changed the rules to only allow rentals for 30+ days.