What NOT to do When Your City BANS Short Term Rentals!

With the rise of short-term rental platforms like Airbnb and VRBO, many cities have taken measures to regulate or even ban these rentals altogether. While these actions may be taken to address concerns about housing affordability and neighborhood disruptions, they can also have negative consequences for property owners and travelers alike. Here are three things NOT to do when your city bans short-term rentals:

1. 1. Ignore the ban and continue to rent out your property 
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3. One of the worst things you can do when your city bans short-term rentals is to continue renting out your property anyway. This can result in hefty fines and legal action, which can end up costing you more in the long run. If your city has banned short-term rentals, it's important to respect the decision and find other ways to generate income from your property.
5. 2. Try to circumvent the ban by using different platforms or websites 
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7. Some property owners may try to work around the ban by using different platforms or websites to advertise their rentals. This is not only illegal but also unethical. If your city has banned short-term rentals, it's important to accept the decision and find alternative ways to use your property.
9. 3. Assume that long-term rentals are the only option 
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11. If short-term rentals are banned in your city, you may assume that long-term rentals are your only option. However, this may not be the case. Depending on your location and property type, there may be other options such as corporate rentals, vacation rentals with longer minimum stays, or even selling the property altogether. It's important to do your research and explore all of your options before making a decision.
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13. BONUS
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15. Last but not least: DO NOT PANIC! I repeat, DO NOT PANIC! Take a few days and do your research, read the updated ordinances and fully grasp what the city is implementing. There might be "loop holes" and/or you might be "grandfathered in"! The most successful real estate investors are the ones who can easily adapt and pivot to make a deal work! 

In conclusion, it's important to respect your city's decision if short-term rentals are banned. Rather than trying to work around the ban, it's better to find alternative ways to generate income from your property. By doing your research and exploring all of your options, you can make an informed decision that is in your best interest.