What’s the easiest way to learn about STR regulations?

[Jeremey J.]

Anyone know a good way to find out what, if any, STR laws and regulations exist in a given locale?

Useguestbook.com only lists major (or random) cities. Are there other, more detailed or exhaustive resources for this?

Other Google searches have been useless.

AirBnB’s advice is to check with the local government, which makes sense, but how?

[John Oden]

Most municipalities have their ordinances posted online, so that would be the first place to start. Also, placing a call (good luck) to the codes enforcement office of the jurisdiction in which you are contemplating an investment. There are multiple levels - State, County, City...so unfortunately there is no easy answer.

And the bigger unknown is what regulations may come to pass in the days/weeks/months after you close on your purchase.

This is such a fast-moving space that your best defense is to make sure that you aren't underwriting your investment on STR revenue alone. Make sure it also works as a LTR, fix and flip, etc.

If you find a market that is clearly pro-STR, then its likely the numbers will be thin because the market has already factored that in to the price of the properties. You're likely buying at the top of the market, and the downside could be ugly.

STR is a great biz model, but not the most stable. Make sure you have multiple exit strategies, in case STR goes sideways.