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Short-Term Rental (STR) Regulations
As of September 2021, Medford, Oregon has regulations in place for short-term rentals (STRs) that investors should be aware of before purchasing a property for this purpose.
1. Licensing and Permits: STR operators in Medford are required to obtain a business license and a short-term rental permit from the city. These permits must be renewed annually and operators must comply with all applicable zoning and building codes.
2. Occupancy Limits: The city of Medford has established occupancy limits for STRs, which vary depending on the size of the property. It is important for investors to be aware of these limits and ensure that they are not exceeded.
3. Noise and Nuisance Regulations: STR operators in Medford must comply with noise regulations and are responsible for ensuring that their guests do not disturb neighbors. Excessive noise or nuisance complaints can result in fines or the revocation of the STR permit.
4. Taxation: STR operators in Medford are required to collect and remit transient occupancy taxes on all rental transactions. Investors should be aware of these tax obligations and ensure that they are properly accounted for in their financial planning.
5. HOA Restrictions: If the property is located within a homeowners' association (HOA), investors should review the HOA's rules and regulations regarding short-term rentals. Some HOAs may have restrictions or prohibitions on STRs.
6. Insurance: Investors should consider obtaining specialized insurance coverage for their short-term rental property to protect against potential liabilities, such as property damage or injuries to guests.
7. Compliance with State and Local Laws: In addition to Medford's regulations, investors should also be aware of any state laws or regulations that may apply to short-term rentals in Oregon. It is important to stay informed about any changes or updates to these laws that may impact the operation of an STR property.
Overall, investors considering purchasing a property for short-term rental in Medford should thoroughly research and understand the local regulations and requirements to ensure compliance and successful operation of their STR business.