Welcome to the latest of edition of our Short-Term Rental Update. You may have heard that Garvey Schubert Barer merged with Foster Pepper effective October 1st. We are pleased to continue to deliver the latest short-term rental (STR) industry and legal news to you from our larger Foster Garvey platform.
Also, last Thursday, October 24, I was in San Francisco moderating the “Alternative Ways to Stay” panel at Bisnow Bay Area Hospitality Summit. Please feel free to reach out to me if you have any questions about the panel discussion.
A few STR news highlights to note below:
WeWork Nixes Seattle WeLive Location
("WeWork Nixes Planned Seattle WeLive Location," Bisnow - Seattle on Oct 15, 2019)
Seattle would have been the third WeLive location nationwide, but WeWork announced this week that it will not open as planned. The project was slated for Martin Selig’s 36-story tower under construction in the Belltown neighborhood at Third Avenue and Lenora. The company’s WeWork spaces in the Seattle market have, thus far, been unaffected by the company’s recent woes as it refocuses on its core business of co-working spaces.
Big news from our friends at Vacasa in Portland. Vacasa entered into an agreement to directly connect its 14,000 listings (soon to be 20,000+ after the conclusion of its acquisition of Wyndham Vacation Rentals) to Google Hotels. This is the first vacation rental software platform to connect directly to Google with its own application programming interface. Vacasa’s CEO, Eric Breon, expects the company will benefit from first-mover advantage in terms of being the first full-service property management company to tie up with Google.
We regularly update clients about changes in real estate law and on industry trends. This includes briefing clients on legislative proposals in the federal tax, housing and other legal areas affecting their businesses. Staying current enables you to anticipate and prevent legal problems as well as capitalize on new developments.