HB 4503 and SB 329: Recent Skirmishes Regarding Short-Term Rentals and Their Effect on Community Associations

by Editor | July 13, 2017 4:23 pm

Tourism is a major part of the Michigan economy and its significance continues to grow. From 2010 through 2014 tourism employment growth even outpaced overall state employment growth. Further, for each month between 2015 and 2017, Michigan’s visitor occupancy rate has increased over the prior year’s occupancy rate for every month, except for two. This growth has seen an increase in the significance of tourism for Michigan as a whole, and the increase in occupancy rates suggests that visitors may be looking to short-term lodging alternatives such as AirBNB. In fact, AirBNB rental fees in Michigan are estimated to have been approximately $25.2 million in 2016.   Read the article……………..

Source URL: http://communityassociations.net/skirmishes-community-associations/