Hey fellow Greensboro real estate enthusiasts! Big changes are on the horizon for our city’s Airbnb landscape, and as local investors, it’s time to get in the know.
Starting January 1, 2024, Greensboro’s revised ordinance is set to shake things up, and I’ve got the lowdown on what you need to stay ahead of the game.
First off, short-term rentals (STRs) are now officially capped at 30 days. No surprises there, but here’s the kicker: all STR operators must snag a zoning permit pronto. Stick it on your property and splash it across your listings – it’s the new must-have accessory. And hey, these permits aren’t like trading cards; they’re not transferable. So, if you’re the proud new owner or manager, mark your calendar – 30 days to permit up!
Now, let’s talk categories. There are two: Homestay Short Term Rentals (STR’s) and Whole House Short Term Rentals. Homestays mean renting out part of your place, but you’ve got to be there too – it’s like a sleepover with rules. Whole House? You’re renting the whole shebang for a minimum of two nights. But, if it’s not your digs, you’ve got to name-drop a local operator and throw in their digits. Oh, and they better live in Guilford County or a neighboring one.
Density’s the name of the game – or rather, the limit. Short-term rentals need to keep their distance, at least 750 feet from their STR siblings. In multi-family hangouts, they’ve got a 25% quota or one unit, whichever’s got more swagger.
Warning: play by the rules, or your zoning permit might do a disappearing act. Two strikes on city ordinance violations or a criminal offense on your property within a year, and the city’s hitting the eject button.
Let’s talk sleepovers. The law’s capping it at two adults per rented bedroom. Forget about throwing ragers too; events can’t be bigger than double your guest count.
And get this – over 600 short-term rentals are doing their thing in Greensboro, according to the city’s crystal ball.
But wait, there’s more. Taxes, the not-so-fun part. Short-term rentals are on the tax radar. State and local sales tax, check. Room occupancy taxes, double-check. If you’re on Airbnb or Vrbo, they’ll do the tax hustle for you. But if guests slide into your DMs directly, tax duty falls on your shoulders.
So, my fellow real estate aficionados, brace yourselves. Greensboro’s Airbnb game is getting a makeover, and knowing the rules is our golden ticket. Stay savvy, stay informed, and let’s ride this wave of change together!
