Short Term Rental in Coastal Rhode Island

[Max Warner]

Hi everyone --

I am a newbie STR investor considering buying a property in the Portsmouth/Middletown/Bristol area. My in-laws live in Tiverton and we are in love with the area. I have seen first hand how popular it has become over the past decade, especially through the pandemic.

I'd love to network and trade notes with any other investors in the area. In particular I'm curious to learn more about the STR policies in the various towns to better understand which areas have more friendly STR legislation.

[Matt Romano]

Hey Max! Also not a STR expert here, but always happy to network / mastermind ideas with other local investors. As Anthony said, it seems very much dependent on the specific Town / City in question.

With STR's still being relatively "new" in terms of the tourism market, it has been quite unregulated at the state level. However, there stands a good chance that could change.

The Bill that was vetoed by Gov. McKee last year is actually in the House tonight with an attempt to override it.  So that will be interesting to see how it pans out.

The cash flow potential from STR's in certain areas makes it's undoubtably an attractive option for many investors (myself included). But I do think it's important to keep these potential changes in mind if STR is a long term investment strategy of yours.

Best of luck, and Happy Investing!