Short term rentals are under fire from local municipalities. Today we are getting an update on developments with short-term Rentals from Pam O’Dell, Executive Director of the Short Term Rental Owners Association of Georgia. The legislature is in session and there are interesting developments.
Government involvement and interference with real estate development is nothing new. You don’t have to look far to find examples of higher prices and slower development because of bureaucratic overreach, fees, processes, and delays. I can give you many examples, but here is one: Government rent-controls end up costing landlords so much they are actually better off leaving a house vacant while waiting for price appreciation to allow them to sell. This leads to quite a bit of vacant properties in places like California. In a few minutes I’m going to share with you the state’s response to this problem. You will love this I’m sure.
How to contact us
www.RogerBlankenship.com. Leave a voicemail right from the home page!
Twitter and Instagram @FlippingAmerica
Call our National Comment Line: 877-55-ROGER (76437) ext 1. Leave your message or your question.
Email your questions to firstname.lastname@example.org. Please always tell us where you are from. We like to know where the show is being heard. And let us know how you found out about us if you don’t mind.
American IRA: www.americanIRA.com
Civic Financial: bit.ly/CivicFunding
Real Estate Investing QuickStart
- The Flipping America REIA meets every Wednesday from noon to 2 and Thursday from 7-9. You can join the REIA and learn real estate investing from the comfort of your own home, or get together with a few friends and form a chapter in your area. Learn more at flippingamericareia.com.
- Flipping America App is in the app store. You can listen to the show, read the show notes, and the entire catalog of shows is now available to you. It’s a free download and there are no upsells or in-app purchases. Free to download, free to listen. Go ahead and give it a try and drop me a line and let me know what you think.
- FlipCalcs allows you to enter one data set about a property and consider up to six deal ppossibilities.
- “Real Estate Investing Quick Start” Fifteen lessons to start your real estate investing career. Study from the comfort of your own home. I give you 8 action assignments in lesson 1 and show you how to complete them while holding your feet to the fire over the next 15 lessons. bit.ly/requickstart.
- You work hard to escape the hood, the cycle of poverty and dependence and the culture of violence, and then the government forces you back into it. I predict an awesome conclusion to this nonsense. Watch EVERYONE who wants to live in safety leave the city. https://www.ajc.com/news/local-govt–politics/atlanta-make-all-landlords-accept-housing-vouchers/RBUDQT37yHk3WjzuuameOM/?fbclid=IwAR0b4vFqxzYiggLIHKR6MuNfGTqtyPA32eWxrbfqzJMsQ_8e7RArtiaGaG8
- Another example of Government trying a really bad idea to solve a problem they created. https://www.wsj.com/articles/want-fewer-homes-try-this-11582500687?mod=MorningEditorialReport&mod=djemMER_h
- The world’s dumbest housing policy. https://www.wsj.com/articles/the-worlds-dumbest-housing-policy-11568243654
Guest: Pam O’Dell
- Short Term Rental Association of Georgia
- We have been the whipping post. Mostly at the local level.
- Lot of talk, soon to be action
- HB 276, is law. Platforms are responsible for remitting directly the state sales tax. Use to be the owners collected the tax and had responsibility to pay it. It is retroactive to Jan 1, 2020.
- Platforms are being sued by various municipal governments for back taxes.
- HB 448 being debated. Extension of 276. Asks the platforms to remit the hotel motel tax.
- Tax bills are required to be accompanied by a Fiscal Note, basically projecting how much revenue this tax would generate. It is projecting that short term will bring in more money.
- Bans. IF a municipality bans airbnb now they are costing the state money.
- Preempt bill. A state law preventing local municipalities from banning STR
Motivational Thoughts for the day
“If you laid all of our laws end to end, there would be no end.” ~ Mark Twain
“It may be true that the law cannot make a man love me, but it can keep him from lynching me, and I think that’s pretty important.” ~ Martin Luther King
Expected Air Date: Thur 2/27/2020
Guest: Pam O’Dell