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Short-Term Rental (STR) Regulations
In Hollywood, FL, Short Term Rental (STR) regulations are governed by the city's Code of Ordinances. Investors looking to purchase a property for STR purposes should be aware of the following regulations:
1. Permit Requirement: In Hollywood, property owners must obtain a Short Term Rental permit in order to legally operate a vacation rental. The permit must be renewed annually and there are specific requirements that must be met in order to obtain the permit.
2. Zoning Restrictions: Hollywood has specific zoning regulations that dictate where Short Term Rentals are allowed to operate. Investors should ensure that the property they are considering purchasing is located in a zone that permits STRs.
3. Occupancy Limits: Hollywood has occupancy limits for Short Term Rentals, which vary depending on the size of the property. Investors should be aware of these limits and ensure that they comply with them.
4. Noise Restrictions: Hollywood has noise restrictions that apply to Short Term Rentals. Investors should be aware of these restrictions and take steps to ensure that their guests comply with them.
5. Taxes and Fees: Investors should be aware of any taxes and fees that apply to Short Term Rentals in Hollywood. This may include tourist development taxes, sales taxes, and permit fees.
6. Code Compliance: Property owners are responsible for ensuring that their Short Term Rental property complies with all building and safety codes. Investors should be prepared to make any necessary upgrades or repairs to bring the property into compliance.
7. Homeowner's Association Rules: If the property is located in a community with a homeowner's association, investors should be aware of any rules or restrictions that may apply to Short Term Rentals. Some homeowner's associations may have their own regulations regarding vacation rentals.
Overall, investors considering purchasing a property for Short Term Rental in Hollywood, FL should thoroughly research and understand the local regulations and requirements to ensure compliance and avoid any potential legal issues.