Short-Term Rental (STR) Regulations
In Tacoma, WA, Short Term Rentals (STRs) are regulated by the city's Municipal Code. Investors looking to purchase a property for STR purposes should be aware of the following regulations:
1. Permit Requirement: STR operators in Tacoma are required to obtain a Short Term Rental permit from the city. This permit must be renewed annually and operators must comply with all relevant regulations and zoning requirements.
2. Zoning Restrictions: The city of Tacoma has specific zoning regulations that dictate where STRs are allowed to operate. Investors should ensure that the property they are considering purchasing is located in a zone that permits short term rentals.
3. Occupancy Limits: There are occupancy limits for STRs in Tacoma, which vary depending on the size of the property. Investors should be aware of these limits and ensure they are in compliance with them.
4. Noise and Nuisance Regulations: STR operators are required to adhere to noise and nuisance regulations in Tacoma. This includes ensuring that guests do not disturb neighbors and that the property is not used for disruptive or illegal activities.
5. Taxation: STR operators in Tacoma are required to collect and remit lodging taxes to the city. Investors should be aware of these tax obligations and ensure they are in compliance with them.
6. Insurance Requirements: STR operators in Tacoma are required to carry liability insurance for their properties. Investors should ensure they have the appropriate insurance coverage in place before renting out their property.
Overall, investors looking to purchase a property for Short Term Rental purposes in Tacoma, WA should familiarize themselves with the city's regulations and ensure they are in compliance with all requirements before proceeding with their investment.