Keyrenter Property Management is announcing a new assistance program for Airbnb owners whose business has been or might be impacted by legislation for the D.C. area, set to take effect on June 24th, 2020 and will cause many Airbnb rental properties to shut down completely. While this new legislation was created prior to the novel Coronavirus, the hardship faced by Airbnb Investors has been accelerated with unanticipated vacancy due to the pandemic.
“Airbnb owners will be dealing with new rental restrictions once this legislation takes effect. The most significant changes are; firstly, an Airbnb owner must be operating out of their primary residence and must not be absent from said property for longer than 90 days of the year. Secondly, if you are running an Airbnb out of a secondary residence you will be forced to shut down entirely. The third significant change is that you must get a short-term rental license. Lastly, tenants of residences who have been subsidizing their rent with Airbnb are prohibited from renting out their unit as a vacation or Airbnb rental. These new restrictions are going to place a great deal of stress on those who own an Airbnb property and make operating impossible for many proprietors. Working with Keyrenter Property Management, we hope to help such persons convert to long term rentals and even sell their property in an effort to stave off financial hardship,” says Property Manager, Debbie Gomes.
If restrictions on Airbnb rentals weren’t damaging enough to those operating within the industry, those Airbnb’s found to be in violation of these new laws will have to contend with fines ranging from $500 to $6000 dollars. Keyrenter Property Management’s Debbie Gomes and Samson Properties’, Sofia Ellis are helping businesses convert to long term rentals, streamline this business model, and when necessary sell properties that can no longer function as an Airbnb.
“The Covid-19 pandemic has forced many of us to reevaluate just how we do business and forced others to bow out of businesses altogether. We want the Airbnb owners of Washington D.C. to know that we have strategies in place for helping them and the experience needed to execute them at the ready. Our passion for Real Estate and Property Management is unmatched in D.C. while our emphasis on putting people first will ensure we are able to help people impacted by these new laws,” adds Ms. Gomes.
About Keyrenter Property Management
Keyrenter Property Management is a property management firm that provides comprehensive solutions for both homeowners and real estate investors. The company manages everything for its clientele. This includes leasing services, tenant placement, maintenance, inspections, evictions and even accounting. Managing properties can be a cumbersome sea of complexity to navigate but Keyrenter Property Management takes that burden off the shoulders of property owners and places it on those equipped to bare it.
Company Name: Keyrenter Property Management
Contact Person: Media Relations
Phone: (202) 838-6000
Country: United States