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Short Term Rental fines about to get REAL

February 27, 2017

 

I'm sure many of you are aware of the boon in short term rentals here  (aka "AirBNB's) in Portland.  Whether a basement apartment or a separate ADU - the law is as follows (in a nutshell):

 - You can rent out up to 2 bedrooms at your primary residence on a short term basis for no more than 95 days a year (without you being on the premises).

- You must have a valid permit from the city in order to rent your rooms/ADU/etc.  The permit involves an inspection and notification to neighbors - total cost is $175.

 

Why?  There is currently a housing shortage in Portland - and this has caused both sales prices and rents to jump pretty darn high.  When owners rent their investment properties on a short term basis - they can likely make a lot more money- but then we have another property unavailable for residents to rent on a monthly/annual basis.

 

The rules have been loosely enforced thus far.  If you were caught disobeying the rules, you would have a grace period to become compliant. But starting March 31st, the grace period is gone and the fine starts at $1000/day.  Holy Fine-a-roni!!  

 

So if you're lucky enough to have space to rent - or even if you rent your home occasionally when you go on vacation - you should definitely start the permit process!

 

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