Updated on November 14, 2024
Forget prediction markets and sports betting. My money is on STR regulation only going up from here.
State bill odds:
Since 2021, total proposed STR bills has increased by an average of 67 each year. One in five were enacted.
If these trends continue: States will consider STRs in an estimated 328 bills next year and pass 66 of them.
Local ordinance odds*:
Since 2021, the total number of council meetings on STRs has increased by an average of 1,278 per year. They peaked at an all-time high of 579 meetings in September alone. So did moratoriums, an indicator that councils were tossing the hot potato to voters or successors.
If these trends continue: An estimated 5,857 council meetings will have STRs on the agenda next year.
* These figures are among only municipalities with a population of 5,000 or more. Source: Quorum, as of 11/11/2024
The safe bet: Legislative activity will increase next year.
The wild cards: Which proposals will pass. If the State of the STR Industry government survey findings and last week’s mixed STR ballot measure results are any indication, we can expect the hot streaks in housing and tax discussions to continue, but there’s no clear favorite outcome – yet.
But even more than I’d bet on all of this, I bet on the STR community. On you, Friend.
Someone somewhere is going to put your properties at stake, and between regulations and other market trends, it can feel like the deck is stacked against us. But unlike March Madness brackets or Super Bowl pools, we can influence the outcome.
Next week’s RR Summit is all about helping you get two moves ahead. The fantasy lineup of speakers will show you how to mitigate your risk and parlay your winnings, and it all starts when you take a seat at the table. There’s plenty of room for you at ours.
Betting on yourself? I’ll take that action.
See you at the Summit,
Alexa Nota,
COO and Co-Founder of Rent Responsibly
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