Airbnb Hosting EP 183 Las Vegas Licensing Process for Short Term Rentals Explained HD

Subscribe to our podcast here: https://itunes.apple.com/nl/podcast/get-paid-for-your-pad-airbnb/id901194206?l=en&mt=2 http://app.stitcher.com/browse/feed/51808/details If you like the show, please consider leaving the show a review in iTunes or Stitcher. A couple minutes of your time can help the show immensely! Thanks! Show Notes: What happens in Vegas, stays in Vegas? The city may have a reputation for forgiving indiscretions, but not-so-much if your misdeed involves Airbnb hosting without the proper permit. In fact, the regulations around short-term rentals are incredibly strict in Las Vegas, and only the serious Airbnb entrepreneur will invest the time and money required to clear all the necessary hurdles. Dillon is very familiar with the complex process of licensing in Las Vegas. He and his wife found their dream home in the city, but it was a little large for just the two of them. They decided to pursue Airbnb as a way to maintain the home and generate extra income. Unfortunately, Dillon was ‘turned in’ by an anonymous tipster, and forced to cancel upcoming bookings until he received the appropriate permit. Today Dillon walks us through the process, explaining the different types of available short-term rental permits, the fines associated with illegal hosting in Sin City, and the reason why regulations are so severe. Listen in as he shares the extra steps he took to secure the coveted Special Use Permit. Topics Covered Why Dillon chose Airbnb over long-term rental: Make three to five times more with short-term Make money rather than break even How Dillon got caught doing Airbnb without a permit: City putting together task force to go after hosts Until then, rely on neighbors to turn people in Anonymous tip may be from competitors with permits The financial hit Dillon took pursuing the licensing process: Seven months lost income (bookings) $2,000 in costs associated with obtaining permit Approximately $10,000 total The fines associated with illegal Airbnb hosting in Las Vegas: Dillon received warning first (cease and desist) Given ten days to come into compliance Had to cancel future bookings ($50 each) Can be fined for noise, lack of business license/permit ($2,000/day) Why regulations are so severe in Las Vegas: Scotch Eighties neighborhood (not gated) Mansions owned by older, wealthy citizens Homes purchased for Airbnb (parties) Disruption of quiet area led to legislation The Conditional Use Verification permit: Only available to small subset Owner-occupied, renting portion of home Pay $500 to obtain approval Must renew annually The process of obtaining a special use permit: Go to Department of Planning, set up process Attend pre-application meeting (architectural drawings, plan) Appear at Planning Commission hearing (automatic denial) Appeal to City Council ($500 fee) Once approved, valid permit stays with property forever How Dillon took extra steps to receive approval: Wrote letters to City Council members, m