All Forum Posts by: Jody Moscrip

@Eric Gebhardt great suggestion. Where I'm located they just approved STR regs. Those who cannot show proof of STR earnings for prior year will go into a queue for an STR license. If the cap has already been met the applicant will need to wait for a new slot to open up. Cap will be a predetermined % of Single Family units in the area and that number can be changed by Board of Selectman. Researching current and future regs as well as the attitude of local residents regarding STR is very important part of process.

@Patrick Ryan. Bethel is a beautiful are! The Bethel town offices should have info available for you. Code Enforcement is typically the dept in charge. There are several sites available as well that are tracking what is going on. I have not found them to be complete for Maine but they are continuing to update as new info is received. 

rentresponsibly.org

VRMAadvocacy.com

vrolio.com

Doing a Google Search with town name and STR regulations may garner some useful info as well

Another thing to check for when selling is whether or not the license (if required) is transferrable. This can impact perceived value.

Meeting International Building Life Safety and Good Neighbor standards are key components of existing and proposed regs.

Have you considered doing both? We are fortunate to be able to do STR and winter rentals in Goose Rocks Beach, Kennebunkport, ME. Our STR season is substantially shorter than in other areas due to beach being primary draw. Winter Rentals helps to keep income coming in year round for some of our owners. With a college 5 miles up the road, we have no problem filling vacancy. Typically full in January for Aug through May leases. Wear/tear is def. higher on both STR and WR. Students frequently don't clean as well as we'd like and not always timely in responses so takes a bit more effort. For those cottages that do both STR and WR, the summer rental weekly rate can be 1.5-2 times the monthly for our high season.

Hi Patrick,

Not sure where your STR is located in Maine but you may also want to consider and monitor what is going on w/ STR regs in your area. Even if not in place now, the landscape may change down the road. Kennebunkport (where I am located) just approved proposed STR regs which means a cap on the number of STR's that will be allowed go forward. If you sell with the intention of re-entering STR industry at later date, it may not be as easy.