Stay Focused S2 Ep38: Boston's AirBnB Regulations
This week Erik and Randal chat about Boston's changed rules and regulations on short-term rentals. This affects AirBnB and VRBO.
Erik: Welcome to Focused Real Estate's weekly video series, and welcome to the Fall. And both of us are in our autumnal attire here.
Randal: My pumpkin shirt.
Erik: Happy October.
Erik: So we want to share with all of you some of the changes that have been happening around legislation and in the different ... in our world here in Boston regarding short-term rentals. AirBnB, Vacation Rental By Owners (VRBO), things like that.
Randal: Yeah, and this is really in a response to what we're seeing happening around us, and the calls that we're actually getting from homeowners and that. And so we did a little bit more research into finding out exactly what is going on, and really short-term rentals is a nice way to put it, but I think a lot of people who really understand this as AirBnB. Well how that's impacted the marketplace, and what that means. So.
Erik: Because that's becoming a big business now for a lot of people. I know when we travel, we've stayed in different locations and AirBnB.
Randal: It's actually even a verb. We are going to AirBnB it.
Erik: We're going to AirBnB it.
Erik: Exactly. Or we AirBnB'd-
Erik: Right. So but we know a lot of our neighbors and clients, they do short-term rentals on AirBnB or Vacation Rental By Owners, or whatever. And there's been some changes in our city legislation, and Condo Associate rules and policies regarding that. Not everyone is a huge fan of what's happening in the market.
Randal: And so we've gotten a couple calls lately, and one call that we got was, "Hi Randal, I'm ready to sell my condominium in Boston, I no longer live there and the rules have now changed so I can no longer AirBnB my condo." Another one was someone saying that they needed to sell their ... or rent their single-family house at a full-time lease because they can no longer rent-
Erik: Do short term.
Randal: Do short-term rentals. And what we found out was the city of Boston's rules regarding the short-term rentals have changed. So now they're imposing a $200.00 a year fee for anybody wishing to do the short term rentals. They've also ...
Erik: Yeah, so you have to register your short-term rental basically.
Randal: You have to register your short-term rental. You can no longer rent out your place that you do not live in. So who's not impacted? The people that aren't impacted by this change are if you own a multifamily house and you want out one of your units as an AirBnB.
Erik: As long as you live in the multifamily.
Randal: As long as you live in the multifamily house, you're exempt. You'll just have to register the unit. If you live in your single family house and are gone for three months a year, you could rent it out during that time, short-term rental, so those people are not impacted.
Erik: Or if you're renting ... if you live in a house or a unit and you're just renting out part of it and you live in there, you rent out one room out of the house you live in. That's only a $25.00 a year registration fee, but you're still allowed to do that.
Randal: So we'll post down below some of the city's regulations so you can kind of read about it yourself.
Erik: And links to those, yeah.
Randal: Yeah, so if you have some questions about that, how that's impacting you, feel free to give us a shout. Be able to answer any questions you might have.
Erik: Yeah. Interesting things are always changing, we're happy to share those. If you have any other questions for us, or suggestions for topics, post below, we'd love to hear from you.
Randal: Indeed. So thanks for watching today, don't forget to like us on Facebook.
Erik: And subscribe to our YouTube channel.
Randal: And until next time, Stay Tuned and Stay Focused.
Erik: Stay Tuned and Stay Focused.