In any tourism market, there’s typically a demand for short-term rentals for tourists visiting the area, especially Muskegon’s majestic Lake Michigan beachfront. According to a recent MLive article, a new ordinance would establish annual registration fees, an inspection process, and new safety/occupancy standards. Owners need to be aware and ready to adopt the new procedures that aim to protect the residents and neighborhoods to set a new standard of safety. Limitations on the duration of rental stays will also be put into place.
Most communities and municipalities require a registration and property certification, the result of an inspection. The inspections will focus on building safety and zoning laws in place. So before inking a real estate deal and assuming levels of rental income, be sure you have a firm understanding of the ordinances in your geographic area.
As potential owners contemplate entering the vacation rental market, they need to be aware of the new financial and regulatory changes.