Post by High Priestess on Jul 6, 2018 15:15:21 GMT
Homeowners in Indian Wells in Riverside county are suing the city over a dramatic loss in revenue due to its STR laws.
www.desertsun.com/story/money/real-estate/2018/07/03/indian-wells-homeowners-sue-city-short-term-rental/747148002/
They have good cause to be upset. THey were assured by the city that their property would not be subject to the minimum 29 day rental rule, and that they could rent it for as few as 7 days at a time. They sunk $1.5 million into the property with that understanding, only to have the rug pulled out from under them later on.
www.desertsun.com/story/money/real-estate/2018/07/03/indian-wells-homeowners-sue-city-short-term-rental/747148002/
They have good cause to be upset. THey were assured by the city that their property would not be subject to the minimum 29 day rental rule, and that they could rent it for as few as 7 days at a time. They sunk $1.5 million into the property with that understanding, only to have the rug pulled out from under them later on.