If you have a property that’s close to Lake Michigan, you may want to rent it out weekly to make some money off that home. However, there are restrictions placed on short term rentals in this area, and it’s important you know what they are before you start marketing your home and looking for vacationers.
Defining Short Term Rentals
A short term rental is defined as a property that’s rented out for a length of time less than one month. So if you’re going to rent by the week or every two weeks, your home will be classified as a short term rental.
Each municipality is different when it comes to regulating short term rentals. In some places, there are no regulations at all, so you can do what you want. In other municipalities, like the city of St. Joseph, the requirements are more restrictive. In St. Joseph, you need to be part of a district that allows short term rentals. Typically, that means down by the lake. If you’re even a few blocks off the lake, you might not be in an area that’s zoned for short term rentals, and you are probably better off renting your house out for the long term. The city is also frowning on the development of additional short term rentals. If you want to turn your house into a short term rental property, you’ll need to get a special permit, which requires paperwork, a fee and an approval that you might not receive.
If you have any questions or you’d like us to conduct an analysis to show you whether your property will work as a short term rental, please contact us at Real Property Management Southwest Michigan.