You said you are new to real estate investing but you have a background in residential real estate - what does the background consist of?

This property has great reviews and is consistently booked.

In practice, this could mean 5 extra days that no rent is collected.  

Here are some practical tips and insights based on my experience managing a real estate fund and working in this field.First, setting realistic expectations.

Ofc I am not on the committee but from watching, the grandfathering of existing units has consistently been on the plan to allow existing STRs to remain operable.

The primary goal is appreciation adding value building equity and therefore net worth.I’ve been at this “game” 46 years  and there is no magic bullet.It takes time, discipline and consistent effort.But it can be done in 10 years.Of course this means living below one’s means - ie spend less than they make - to develop and build cash and capital that can be invested and then watch ot grow over time.Hope this helps.Arn

Which then in turn consistently having 5 star reviews can increase your nightly rate.

Just seems like an odd business practice to shovel everything under the rug.

It often takes living and breathing the industry around the clock for a few years before you start seeing consistent returns.

.: It's not an issue IF their lease is scheduled to expire.My personal practice: when a tenant submits an application, I let them know I intend to contact their former landlords.