Dallas City Council bans STR's

[Silvia Ochoa]

June 14, Dallas City Council votes to ban short term rentals like Airbnb and Vrbo in single-family zoned neighborhoods. Enforcement will take effect in December of this year. This effectively ends the " wild wild west" of short-term rentals in Dallas, which had no regulations until now. The councils new regulations allow STR's in neighborhoods marked as commercial, mixed-use and certain multi-family neighborhoods.

"The regulations require STRs to register annually and pay hotel occupancy taxes. There would be a two-strikes-and-out policy for violations, and the maximum number of people in an STR was set at 12 and there must be one parking spot per bedroom." per William Joy of WFAA

 Just wondering how this will affect current STR investors in Dallas. Will you transition to traditional long term rentals or will you consider selling?