Short Term Rental Could Lead to Years of Headache
If you’ve heard about Airbnb, you probably know it ’s a startup that lets the average person rent out his or her home to travelers, who spend less than they might at a hotel.
A few enterprising real estate investors have even used the service to market their properties for vacations and other short-term stays.
But one major cautionary tale has been making the rounds. According to the San Francisco Chronicle, a woman rented her Palm Springs, Calif., condo in May to a man who has stopped paying, won’t move out and has claimed legal protections as a renter under state law because he’s been there more than a month.
The property owner has now been forced to initiate an eviction process that could take three to six months. Airbnb says it will assist the owner with her legal bills.
Article Compliments of Community Investor Magazine Reposted from http://www.communitybuyinggroup.com/blog
