Posted by: phillipsre | May 31, 2016

Seattle Considers Regulating Short-Term Rental Companies

imageAs summer months approach, many people consider vacations and summer get-aways. Many people that leave for extended periods of time use house sharing services, like Airbnb or Vacation Rentals By Owner (VRBO). Over about 80 percent of the properties in Seattle that are used as short term rentals are generally owner-occupied or the owner’s permanent residence, the other 20 percent of homes are not, and generally used as an investment property by the owners. When these types of short-term housing scenarios increase, it can squeeze the supply of long-term rentals and make housing affordability worse. This is why the Seattle City Council is considering regulating the short-term housing-rental market, but Seattle needs to carefully weigh the impacts on property owners before moving forward. The Seattle Times has more details and information on the current situation, read more about it here. 

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