Air BnBs in Portland Oregon
Vacation rental properties in Portland Oregon are in such high demand that there aren’t enough vacancies at any given time to accommodate everyone who wants to visit. Air BnBs to the rescue. Many Portland property owners are making extra cash renting out extra bedrooms in their homes. And, because Portland is such a diverse metropolitan area, there are accommodations to suit every style and budget.
Visitors to our area can find rooms for rent for as little as $30 per night, or can go more high end with a luxury suite in the Mayor’s mansion for $275 per night or even a whole flat with a view in the Pearl district for $300 per night. (There are even super luxury accommodations that rent for as high as $1000 – $3000 per night). Home owners who perhaps travel a lot for work, or who have a 2nd home in Portland will often rent out their whole house while they are out of town.
Portland laws governing Air BnBs are under scrutiny.
Currently the laws state:
- All Air BnBs must be permitted.
- Permits must be prominently displayed in the unit being rented out.
- Anyone who wants to rent out space must occupy the dwelling for a portion of the year.
Officials have discovered that there are many property owners who are blatantly disobeying the Air BnB laws. For example, there are known California corporations that own multiple units in some of the high rise condos in downtown Portland and needless to say, do not occupy any of the units any part of the year.
Investors both local and out of state, are buying properties in some of the more close in neighborhoods with no intent of ever occupying them, or using them as long term rentals.
Portland housing officials are in the process of cracking down on illegally run Air BnBs for multiple reasons.
- The use of otherwise relatively affordable housing that is being turned in Air BnBs is hurting the affordable housing market.
- The city is not collecting all the taxes due to them.
- People who actually live in areas with a high density of Air BnBs are finding their quality of living diminished by vacation renters.
Portland is not the only city going after owners of Air BnBs. Crackdowns on illegal use of properties is now taking place in other cities such as New York and San Francisco.
As long as we have a shortage of vacation rental units in Portland, Air BnBs will continue to gain popularity in this area, and investors will be able to reap the rewards.