By Stephanie Fox, June 9, 2018
Thinking of having an ADU installed on your property? If you have been hoping for a short-term rental unit, this info is for you!
In early May, the Portland City Council provided another boost to homeowners seeking to derive income from their residential properties by permanently waiving development fees on new accessory dwelling units (ADUs) serving as long-term rental units. The temporary waiver of system development charges (SDCs), the fees charged on all new development to pay for the cost of improvements to sewers, streets and parks as a result of new development, dramatically lowered the cost of new ADUs by roughly $15,000 per unit and has encouraged the development of thousands of new housing units.
To be eligible for the waiver, homeowners must commit to not using the ADU as a short-term rental for 10 years. For homeowners seeking additional space for a relative or long-term rental income from their property, the permanent waiver is a significant benefit that ensures that new ADUs will remain accessible even for those with limited budgets.
However, homeowners seeking the flexibility of utilizing the ADU as a short-term rental without paying the additional $15,000 in fees have a short window to apply under the current policy. All complete permit applications submitted by July 31, 2018 are eligible for the SDC waiver regardless of the intended use of the ADU. Beginning August 1st, property owners who take advantage of the waiver and then rent their ADUs on a short-term rental platform must repay the required SDCs plus a 50% penalty.
If you wish to maintain the flexibility of renting your ADU on either the short or long-term rental market, Dweller is uniquely positioned to help you meet the July 31st deadline. Dweller’s standard unit is pre-approved by the State of Oregon and has been successfully permitted by the City of Portland on multiple occasions. Even if you aren’t ready to start site work immediately, a permit application allows for up to 11 months to complete construction.
The clock is ticking so please don’t wait! We can help you determine if your property is suited for a Dweller ADU and ensure that you have the flexibility to use the ADU to meet your needs.
Feel free to reach out to 1-800-Dweller or Stephanief@livingroomre.com for more info.
www.Dweller.com
Stephanie Fox
Broker
I've lived in and loved Oregon all my life. An early obsession with houses and all that happens inside them, plus a sincere interest in human connections is what led me to the real estate world.
Having degrees in leadership and management and human resources, I have found a real pleasure in connecting that special, sappy community feel to real estate. Buying and selling homes is a huge deal and I want my clients to feel supported throughout the process. A few promises if we get to work together: education | communication | guidance | commitment | community. You will not be left in the dark- ever.
*Wanting to sell a home?* I will help guide you through the prepping and the primping. Offering fresh marketing and a thorough approach to get you the best sale possible. *Wanting to buy a home?* I will keep you up to speed by walking carefully through repair options and negotiation strategies. I will connect you with the necessary service people like roofers, HVAC technicians, and even interior designers. Years after the sale has closed? That same service still applies.
I really love this business. I love working with wonderful humans to accomplish such a significant goal. I love looking at and getting to constantly learn new things about homes and the stories they hold. I love a good, win-win negotiation where everyone gets to walk away happy. And since we're talking bio, it seems worth nothing that when I'm not selling houses, you'll catch me hanging with my beloved and very dorky dachshund, wrangling my two crazy cats, hiking the gorge and exploring the outdoors, appreciating our environment, and enjoying my people.
Visiting from out of town? I dare you to ask me for some recommendations!
Want to get together or know someone who could use my services? Give me a call or shoot me a text: 503-999-2457 or email Stephanief@livingroomre.com.
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- T: 503-999-2457
- stephanief@livingroomre.com
