Prescott: Summer vs. vacation rental vs. traditional rental

[Danielle Friberg]

Does anyone own rental property in Prescott, Arizona? Do you do vacation rentals, winter visitor rental, or traditional rentals? 

[Mike Berkaw]

I am relocating to Prescott in January and have been reading up on vacation rentals. It looks like there is a state law that allows vacation rentals. Although Prescott city would like to ban them, currently they cannot. What the city did do is impose some restriction.

There are different rules if you are renting out the entire house vs. just a room(s) and are living in the other part of the house. You need a business license and will need to pay a fee to the city along with a registration fee. There is a good read in this link: Prescott's short-term vacation rental ordinance

I hope they don't try to outlaw them entirely as the house we purchased has an attached 2/1 apartment that I was going to use as a vacation rental. I don't know the peak vacation time, although I know a lot of people from Phoenix come up in the summer to escape the heat. There is a strong long term rental market though.