UPDATED: Short Term Rental Legislation Vetoed

On Monday, Short-Term Rental Legislation went to the Governor’s desk for approval, after having passed in the House and Senate –  but it was vetoed.  We were successful in changing some language to help our Realtor members remove themselves from the new property insurance and taxation requirements, but all members should understand the changes because it could have an impact.  Even if you don’t broker rentals, as buyer’s agents, you must disclose potential new regulations to buyers who are interested in purchasing a home with the idea that they will rent it during the summer or off-season months on a short-term basis. Here is a link to the current legislation under consideration.  We still need you to take our brief rental survey so that we can determine how best to help our members manage these changes.