This is not due to an increase in his salary, but rather an innovative approach to an affordable adventurous lifestyle. While many cities and counties in Utah have strict zoning ordinances, preventing legal nightly rentals (such as Airbnbs and VRBOs), there is little enforcement. The burden of proof is largely on any surrounding neighbors wanting to lodge a complaint. There must be detailed documentation, including license plate numbers, breaking of noise ordinances and illegal parking situations. The penalty is stiff, up to nearly $1,000 a day for this ordinance violation … if caught and charged.

However, before accusations fly concerning me, a common law-abiding citizen (mostly), condoning illegal activities, allow me to explain. According to Utah Code Section 17-50-338, a short term rental can be defined as, “A residential unit or any portion of a residential unit that the owner of record or the lessee of the residential unit offers for occupancy for fewer than 30 consecutive days.” Anything more than that is not considered short-term.

This may appear to be a loophole, as a person can, for all intents and purposes, rent a property for 31 days and continue to be a neighbor and code obeyer in good standing, but this is not what my next door neighbors did. Instead, they advertised their home for rent with a dot at the end of the sentence. When one person inquired about the rental, he was informed they only needed it for a period of 60 days. The occupation of this individual, a traveling nurse, needs more than temporary, but less than permanent, housing. When my neighbor asked if there were more where he came from, he provided a decent-sized list of individuals with this specific housing need.

This new approach to housing could prove one of a few real estate trends we may see in the coming year. Along with this, we are also seeing more “home sharing.” For those who may not want to settle in one place year-round, the option of shared ownership of a primary residence, a second home or a vacation home could be viable. This offers freedom of movement and benefits of homeownership at the same time.

Another post-COVID-19 shutdown trend we have already began experiencing in the past year, and will likely see much more of in the coming year, could be termed “mutigenerational living.” Fairly self-explanatory, this includes extended families making space to blend households. This benefits older family members who may need more assistance and care as they age, as well as combating the challenge of home affordability for everyone. Personally, I have sold a number of homes this year that offer suitable living space for two families with the intent to be used as such.

Real estate investment is also still maintaining a stable place in the market. Higher interest rates coupled with higher home prices may be conducive to “house hacking.” This is a type of investment shortcut designed for those willing to put time and effort into achieving these goals. Purchasing a duplex or triplex and living in one of the units while renting out the others is one example. Another example would be choosing to live in a smaller space in a home while renting out the larger one.

Whatever we see in the coming year within the realm of real estate, navigating the course with a real estate professional is essential. This, in and of itself, is truly an adventure.

Jen Fischer is an associate broker and Realtor. She can be reached at 801-645-2134 or jen@jen-fischer.com.