From No Regulation to Complete Ban on STR's

Kenny shares his personal experience with regulatory changes in Buffalo, New York, which went from no regulation to a complete shutdown of non-owner-occupied short-term rentals. Bill and Kenny discuss the importance of having a seat at the table for advocacy prior to regulatory changes, drawing parallels to the rise of Uber. They emphasize the need for organized resistance early on to influence city council decisions. Regulation is identified as a major threat to the industry, impacting investment strategies. Bill shares his approach of investing in markets with established regulations or those where tourism is a significant income source. They caution against investing in politically volatile areas and stress researching political climates when choosing markets. The hosts also highlight the rise of tourism in tertiary communities around urban centers as an opportunity. They conclude by urging listeners to prepare for long-term changes in the industry and consider advocacy seriously. https://www.marketmystr.com/ 00:00 Introduction to STRonomics 00:28 Market My STR: The Ultimate Marketing Platform 01:26 The Reality of Short-Term Rental Regulations 02:08 Kenny's Buffalo Experience 03:37 The Importance of Advocacy 05:26 Lessons from Uber's Strategy 08:32 Investing Strategies Amidst Regulation 15:58 Final Thoughts and Farewell We handle the day-to-day tasks of your short-term rental, giving you the freedom to grow your business and focus on the things that matter most. In the dynamic landscape of short-term rentals, success lies in the details. At STR Super VAs, we bring expertise to every facet of your business, ensuring those details are meticulously managed. Click here to learn more about how you can integrate VAs into your business! https://www.strvas.com/ Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA STR Data Hosts Facebook Page Instagram: Kenny_Bedwell You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 Build STR Wealth: https://buildstrwealth.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices