Short-Term Rental-purchase-Lake of the Ozarks

[Megan Penman]

I am looking at purchasing a home on the lake in Lake Ozark, MO- From what I see it is zoned as R-1 and that nightly rentals are prohibited. However, it is and has been a nightly rental for years on Airbnb- I called the city and the person who answered said there are no restrictions for nightly rentals... but I am running across articles that say otherwise... advice on how to do my due diligence before pursuing this purchase?

[Drake Schmid]

Hi Megan, i am a licensed agent here at Lake of the Ozarks. If you want to share a little more information on the property with me and I can help you find the answer to the zoning concerning STR here at the lake. You also should be aware that many HOA and Condo associations are limiting or eliminating STR. There has also been a major increase in the number of rental properties here at the lake and that has and will affect the STR market. It is a short season and few places get rented throughout the year. the typical rental season is just 100 days. I personally know several investors that make all their revenue in that summer rental season and just eat the holding costs on the remaining 9 months. A good location will extend your rental season and increase peak season rates. In my opinion it is worth spending more upfront on a good location.