As Bend home prices soar, interest in short-term term rental properties also on the rise

'What makes short term rentals most appealing for them is the ability to generate some rental income'

BEND, Ore. (KTVZ) --As Bend-area home prices soar to record levels, the interest in buying short-term rental properties in Bend is also on the rise, according to real estate broker David Gilmore.

"So whether someone is a big outdoor enthusiast and they’re into hiking, biking, kayaking, mountain climbing, we have all of those sports readily available in Bend," Gilmore said Wednesday.

Gilmore, who works for Coldwell Banker, Bain has been selling real estate in the Bend area since 2010. He said over the years, he’s noticed more people looking specifically for rental-ready properties.

"Many of my clients do come in from out of the area, and what makes short-term rentals most appealing for them is the ability to generate some rental income, but also the flexibility for personal use," Gilmore said.

The city of Bend currently has 1,015 short-term rental operating licenses on-file since starting the licensing program in 2015. 

Gilmore said buyers are more interested in units that are already established as a rental property.

"So most clients looking for that type of property are wanting ones with existing permits or transferable permits because they realize that the process may be quite lengthy and difficult to establish a new one," Gilmore said.

When asked if the properties Gilmore oversees have voiced concerns about short term-rental properties in their community, he acknowledged that some visitors do have a party-like mindset when staying in a short term rental, But he added that he knows conscientious owners will try to take care of those concerns.

"It’s always an unknown, as far as who’s going to be renting that particular weekend, but I think most owners try to be aware of that, to minimize the impact on surrounding neighbors," Gilmore said.

We tried to reach out to viewers who contacted NewsChannel 21 to complain about short-term rentals hurting their neighborhoods and hurting an already tight housing market, but they declined to go on camera.

There are requirements in the city rules for at least 250 feet of separation between short-term rental properties in residential zones. You can learn more about the licensing and permitting process and details here.