Steps to Monetization:
1. Check if your neighborhood is capped with permits via this link from the City of Palm Springs. If capped, go to step two. If not capped, apply for a short term rental permit through the city of Palm Springs.
2. If your neighborhood is capped for short term rentals, you have three options:
A. You can apply for the junior permit to allow 6 rentals per year for when you travel. You can self manage, or hire a company like Open Air Homes to manage while you’re out of town.
B. Work with a company like Open Air Homes to rent out your home for 30+ day stints, or long term furnished rentals. Stays over 30 days are considered long term in the state of CA, and do not apply to the short term rental regulations. Please note: To legally take rentals over 30 days in the state of California, the company you partner with needs to be a Real Estate Brokerage. Open Air Homes is a brokerage, with DRE #02164159.
C. Add yourself to the capped waitlist and wait until your neighborhood is under the 20% threshold, or until Palm Springs’ city council realizes their regulation has plummeted house pricing, and reverses course.
3. Partner with Open Air Homes to launch your listing, whether as a STR with 36 rentals per year in a non-capped city, 6 rentals per year with a junior permit + Month+ rentals, or strictly as a rental property for Month+ bookings.
Some homeowners are choosing to apply for their junior permit, and then work with Open Air homes to allow 6 short term rentals per year, along with Month+ bookings.
Others are choosing to simply go the Month+ route, and work with a company like Open Air Homes. We have focused on Month+ rentals since 2018, and a significant portion of our portfolio rents to discerning travelers who are looking for 30-90 day stays.