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Entries in Short term rentals (1)

Thursday
Nov152018

DC Puts Strict Limits on Short Term Rentals 

Airbnb is no more in DC. As of October 2019. DC City Council was busy today. They passed a law essentially banning Airbnb and other short term rental in DC. Or did they? Owners can rent out a room in their home or a basement unit for up to 90 days a year and must now register with DCRA. The Council is giving DCRA time to come up with a license for short term rentals, as one currently doesn’t exist. DC wants to preserve affordable housing units while owners want the freedom to rent their home on a short term basis. In DC that can be even more important given that anyone who moves in as a tenant can literally stay forever if they keep paying rent and don’t violate the lease. So if you aren’t up for dealing with DC landlord tenant laws this was another option. The fact that the owners had no licenses was simply ignored by DCRA, a fact acknowledged in the testimony to the Council. So if you currently list your unit on Airbnb or another short term rental site is it time to panic? I’d say no. It’s time to make sure you can pay your mortgage without that income. But Airbnb has sued Boston over a similar law and has been trying referendums in other areas. Nothing is a done deal when the law doesn’t go into effect for almost a year. But you may want to consider looking at whether Airbnb is going to be around in DC long term. Because the answer as of today is no. If you want to discuss your options for renting your property longer term or how this law impacts you contact us.