Rental license required by the city?

[Brittney Lundeen]

I'm only weeks away from finally renting out my first property! I will be renting it out on Airbnb for the month of February since the Super Bowl is nearby and there is a limited supply of housing. After that I will be renting it in a 12 month lease. 

I heard from someone that you need to set up an inspection from the city and apply for a rental license, and that it needs to be renewed annually. I've talked to many investors about getting started and they never mentioned this for a single family home. The license is $145 annually. Is this normal?

Thanks in advance!!

[Michael Guzik]

@Brittney Lundeen Good on you for acquiring that property Brit Congrats! This is completely normal and I would get it done immediately. With the way things have been going people and cities are really starting to crack down on Airbnb owners, and you want to make sure you are doing everything right and get a feel for the "system" and the people that run it. You don't want to be one of those people caught without the rental license and then possibly penalized/fined or banned from doing so in the future. You always want to obey the law and be a good citizen lol! Good luck!