Yes, Realtors should disclose Brigantine short-term rental issues with potential buyers.
Why?
Because poorly run short-term rentals can have a number of negative impacts on neighborhoods, such as increased noise, traffic and parking problems.
Short term rentals also reduce the availability of long-term affordable housing. Year round residency declines. Business shutters in the off-season.
There are a number of laws and regulations that govern short-term rentals, and potential buyers need to be aware of these before they purchase a property. For example, some cities have banned short-term rentals altogether, while others have strict restrictions on where and how they can be operated.
Brigantine taking light-handed approach to STR’s.
Brigantine proposing 2 night rental minimum for properties with 3 or more bedrooms.
One and two bedrooms properties have no rental restrictions.
Realtors have a duty to disclose all material information about a property to potential buyers. This includes any information that could affect the value of the property or the buyer’s ability to use the property in the way they intend.
Short-term rental issues are considered material information, and Real Estate agents should disclose them to all potential buyers.
Some examples of short-term rental issues that realtors should disclose:
- Local laws and regulations: Realtors should disclose any local laws or regulations that govern short-term rentals in the area where the property is located. This includes any restrictions on where short-term rentals are allowed, how many guests they can accommodate, and how long they can be rented out.
- Neighborhood opposition: Realtors should disclose any known neighborhood opposition to short-term rentals. This could include complaints about noise, traffic, or parking problems.
By disclosing short-term rental issues to potential buyers, realtors can help their clients make informed decisions about whether or not to purchase a particular property.
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What about LTR issues? What about an a$$hole neighbor that’s lived there for 30 years? Should they disclose those too?
Anyone looking to make an investment in real estate should do their homework on that community, that responsibility does not fall solely on the realtor.
The current attack on STRs may be what hinders a person from buying in Brigantine, especially those buying a second home. People do not save up to buy a home at the beach to turn around and rent it year round, BUT many do buy a home for their family to enjoy the beach and rent out a few weeks to offset costs.
This narrative of all STRs being party houses is simply inaccurate and getting old. Also blaming STRs for the lack of LTRs is inaccurate too. Covid exposed how poorly owners rights are protected and tenants are favored. LTRs are a high risk now.
Also, the negativity of many “locals” towards outsiders and their fear of change or inability to accept it does not make Brigantine a welcoming investment either. We keep hearing that young families cannot afford to buy here, WAKE UP, young families cannot afford to buy in most places right now. Home values and rent are inflated everywhere, I see my own children dealing with this.
This is not limited to Brigantine. Your attempt to blame every issue in Brigantine on STRs is ridiculous!
Thank you for looking out for the residences of Brigantine I have had an owner occupied residence here for 16 yrs and I have seen and experienced the good old boy political game and it was bad. hopefully after the politicians see your pod casts they will wise up