Insight
Localities will be required to identify concrete options for increasing affordable housing availability, which may lead to zoning changes, preservation strategies, or incentives that could affect the ability to operate STRs.
Spanberger unveils Virginia housing affordability plan
Summary
Virginia's Governor-elect plans to address housing affordability by empowering local governments to increase affordable housing options, including potentially giving localities a 'first look' at affordable properties. Hosts in Virginia should monitor local policy changes as these measures could impact the local STR landscape.
Key takeaway