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All Forum Posts by: Ryan Nie

Ryan Nie has started 0 posts and replied 2 times.

Post: Upper Peninsula Michigan Sort-Term Rental Market

Ryan NiePosted
  • Investor
  • Marquette, MI
  • Posts 2
  • Votes 2

Be aware that the city has passed an ordinance on short term rentals in Marquette. If there is already one registered in the location you are looking to purchase you may be out of luck. 

http://www.uppermichiganssource.com/content/news/New-short-term-rental-rules-passed-in-Marquette-421691693.html

MARQUETTE, Mich. (WLUC) - After much debate, the city of Marquette has a new short term rental ordinance.

By a 4-3 vote on Monday night, the city commission approved making short term rentals part of the zoning ordinance.

There are a number of conditions.

There is a limit of one rental property per 500 feet or roughly one city block.

There would also be a maximum of 250 short term rentals in the city. People interested in renting their homes would have to pay a $175 one time registration fee and have their homes inspected by the fire department.

Mayor Dave Campana told TV6 the commission would revisit the ordinance in a year and make adjustments if necessary.

Campana said the main concerns are fire safety and preserving the integrity of neighborhoods.

Click on the link in the related links section of this page to read the ordinance.

Post: Multi family analysis question in Marquette Michigan

Ryan NiePosted
  • Investor
  • Marquette, MI
  • Posts 2
  • Votes 2

Hey Tony. 

I would double check your property tax values on that property. They seem low. I currently pay more then that on my personal residence which is valued about $100,000 less then the property you intend to purchase. Here is the link for the current Marquette city millage.

http://www.co.marquette.mi.us/records_and_property...