In March 2018, Pocono Mountains Association of REALTORS created a Short-Term Rental Task Force in response to changing regulations and member concerns on behalf of their clients. In 2020 a permanent committee was formed due to an increased interest in this sector.
This mission of the committee is to educate the public and stakeholders of the value of short-term rentals as well as support fair and common-sense rules and regulations pertaining to the industry within Monroe County as well as Lehman Township, Pike County. Visit our committees page to learn more about our Short-Term Rental Committee.
The centrally located, four seasons destination with 12 state parks and forests all within a 30-mile radius, all make the Poconos a great investment area. However, due diligence is important as local zoning and municipal ordinances dictate which properties can and cannot be used as short-term rentals. In addition to using a local REALTOR to guide you, below is additional information to make your short-term rental a success.
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Before listing your property as a short-term rental, follow these important steps.
- KNOW YOUR ZONING AND/OR HOA RULES Is it currently legal? Does your township/borough/HOA allow it? What ordinances/regulations are in place/in the works?
- KNOW YOUR NEIGHBORS Will they be negatively impacted?
- KNOW YOUR OWN ABILITIES Opening a short-term rental is hard work and time consuming. (Linens? Disposable Products? Garbage?)
- KNOW YOUR FINANCES Buy-in cost: Furnishings? Maintenance? Utilities?
- ASSEMBLE A VILLAGE Turnovers/Yard Maintenance/Emergencies/Deep Cleanings/ Periodic Reviews/Marketing/Legal/Staging Property.
- KNOW YOUR TAKEAWAY After you pay your village, your take-home $ is taxed as income.
- What is a short-term rental (STR)?
- Are STR’s a good investment?
- How do you invest in STR’s?
- Are STR’s profitable?
- How do I start?
- Information on purchasing a property sight unseen.
- What is self-management?
- Rental history?
- Short Term Rental regulations?
- Do I have to close in person?
- Do properties come furnished?
- Difference between Long term rentals versus short term rentals?
- Are professional photos a must?