Sean Pyles

They want a cozy place to stay.

If it's an Airbnb, that could just be a party pad and they might not really care about what they do or how they leave the place at the end.

And it's really on the person owning the property to be aware of all these various ordinances.

You need to be proactive because a city doesn't care if you didn't know about a rule and violated it.

They're still going to charge you.

There was just an issue in the Portland area where a number of Airbnb type renters didn't know they were violating various ordinances.

And I heard about one man who was charged $20,000 because he violated an ordinance that he wasn't aware of.

And this is an older gentleman.

He didn't have a lot of money and is putting a lot of strain on people.

There's been, of course, some backlash to this, but you can really get into trouble if you don't follow the rules to the letter.

And for me, I'm not doing short term rentals.

So I just read up on my local city's ordinances for having a long term rental.

And I trust my property manager to ensure that we're all in accordance to that.

And yeah, it's pretty straightforward for me, fortunately.

Yeah, they're talking about potentially building a chalet from scratch.

How does that change the calculus about whether this could be a risky or potentially lucrative venture for them?

Right.

I want to go back to your note about cash flow being an issue, because if they do have a mortgage on their potential chalet, I assume they would also be paying rent in Texas, too.

So that's a good amount of money each month going towards covering housing expenses.

And one would be a place that they're not even living.