Tobyhanna Township Removes Short-Term Rental Cap: A Win for Property Owners and Buyer

[Mike Eichler]

     Tobyhanna Township has made a game-changing move for property owners, prospective buyers, and anyone considering investing in the area by removing the previously in-place cap on short-term rentals. This recent rule change opens the doors for a brighter real estate market in the Poconos and creates new opportunities for buyers and sellers alike.

A Boost for Sellers: More Buyers, More Opportunities

Before the removal of the cap, potential buyers were often hesitant to purchase properties in Tobyhanna Township. With a set limit on the number of short-term rentals allowed in the area, many feared that they wouldn’t be able to rent out their property after they purchased it.  This uncertainty made it difficult for sellers to attract offers, as buyers worried about the possibility of hitting the cap. 

Now that the cap has been lifted, sellers are in a much stronger position. With no restrictions on short-term rental numbers, more buyers are likely to be interested in properties in the area, knowing they have the freedom to rent without concerns about hitting a maximum limit. The removal of the cap also signals a stable and more predictable real estate environment, increasing the appeal of properties in Tobyhanna Township all around. 

A Win for Buyers: Freedom to Rent and Resell

For buyers, the change is equally beneficial. Previously, potential homeowners were concerned that they might buy a property, only to face the fear of not being able to rent it out if the short-term rental cap was reached. This could significantly impact their investment, especially for those looking to generate income through vacation rentals. With the cap now gone, buyers no longer have to worry about the possibility of being locked out of the short-term rental market.

Moreover, the removal of the cap helps alleviate concerns about future resale values. Buyers were also worried that, down the line, they might struggle to sell their property due to the limitations imposed by the cap. Now, with the cap lifted, there’s less fear of future restrictions that could make it difficult for buyers to sell their homes at a reasonable price or in a timely manner. Buyers can now move forward with confidence, knowing that the market is free from such limitations.

The Bigger Picture: Long-Term Benefits for Tobyhanna Township

This rule change is not just beneficial for buyers and sellers in the short term. It’s also a positive shift for the broader real estate market in Tobyhanna Township. By removing the cap, the township is fostering a more dynamic and flexible property market, which can attract investment and bring more attention and growth to the area. 

For property owners who rely on short-term rentals as a source of income, this change is an opportunity to expand their business without restrictions. With more rental options available, there will likely be an increase in tourism and visitors to the area, helping to boost local businesses and the economy as a whole.

Conclusion: Embracing a More Open Market

Tobyhanna Township’s decision to remove the short-term rental cap is a significant step toward creating a more vibrant and appealing real estate market. This change benefits both buyers and sellers, offering more freedom, flexibility, and opportunities in the property market. Whether you’re a property owner looking to sell or rent, or a buyer eager to invest, this rule change makes Tobyhanna Township an even more attractive place to be. Now is the time to take advantage of these new possibilities and seize the opportunities that this newly flexible real estate landscape offers.

Hey, thanks for reading :) About me: I'm a STR-focused realtor, investor and property manager working in the Poconos region. I own 6 STR properties and handle management of over 90 homes for others.

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-Mike Eichler

~Your STR Expert~

[Mark Shay]

The Poconos Association of Vacation Rental Owners (Poconos VRO) attended this meeting and several of our volunteers provided data to help the board in their rollback of this cap.  Our position:
1) Don’t interfere with the real estate market with arbitrary caps, you are hurting innocent people. Let the market do what it does best.
2) You have plenty of rules, now ENFORCE them. You have a 24 hour hotline yet bad operators continue to operate. Shut down the ones that are operating without a license. Enforce the rules you have

For anyone in the STR Market in the Poconos, we encourage you to join Poconos VRO and support our efforts for reasonable regulation. Search Poconos VRO.