Last week, MiSTRA hosted the Michigan STR 2025 Outlook, bringing together over 300 short-term rental (STR) owners, operators, and stakeholders for the largest gathering of its kind in Michigan to date. The energy and engagement at this event were extraordinary, showcasing the strength and diversity of Michigan’s STR community. (Missed it? You can read the full recap HERE.)
Attendees represented a diverse array of locations, from bustling tourist hubs like Traverse City and Coastal West Michigan to urban markets such as Ann Arbor and Grand Rapids. The Upper Peninsula was well-represented, alongside participation from smaller communities like Higgins Lake and Three Oaks. This wide geographic reach not only underscored the vibrant interest in short-term rentals throughout Michigan but also highlighted the unique challenges and opportunities across these varied markets.
What truly stood out, however, was the overwhelming enthusiasm to connect, collaborate, and learn from one another. This spirit of camaraderie was on full display in the meeting chat, where attendees engaged in rich “hallway conversations” about everything from local regulations to best practices for optimizing listings.
Insights from Attendees: Building Community and Navigating Challenges
The meeting chat was abuzz with comments, questions, and dialogue on a wide range of topics—some sparked by presentations and others reflecting pent-up energy to share insights with an audience that understood their experiences. Here’s a closer look at the key themes:
1. Geographic Representation
The event showcased a broad representation of STR hosts and operators from across Michigan—and even out of state. The chat provided a lively “show and tell” of current issues and realities of STR ownership and hosting in different areas, from Traverse City to the Upper Peninsula and beyond.
2. Regulatory Challenges
The evolving regulatory landscape was a major focus during the event and a frequent topic in the chat, including:
- Local Ordinances: Restrictive zoning, licensing caps, and high fees in certain areas fueled discussions about advocacy.
- Taxation: Concerns over layered taxes and inequities in how home businesses are taxed led to shared strategies for compliance and fairness.
3. Fostering Collaboration
A strong desire to create deeper connections within the STR community emerged as a key takeaway:
- Local Chapters: Attendees expressed high interest in forming local chapters, with mentions of Traverse City, the Upper Peninsula, and Three Oaks as potential hubs.
- Helpful Resources: Many emphasized the value of shared resources, such as guides for navigating local regulations and templates for advocacy at township meetings.
4. Professional Development
Attendees shared actionable tips and tools for running successful STR businesses, including:
- Tools to Use: Recommendations for leveraging platforms like AirDNA, dynamic pricing tools, and Avalara for tax obligations.
- Marketing Insights: Ideas for targeting niche markets, such as equestrian travelers, anglers, and snow sports enthusiasts.
5. Current News
Throughout the chat, attendees speculated on recent developments and their potential impact on STRs in Michigan:
- The Sale of Vacasa to Casago: As Vacasa is Michigan’s second-largest property management company, attendees discussed what this sale could mean for service quality and the STR market.
Shifting Legislative Landscape: With the 2024 legislative session concluding, there was speculation about how changes in the political majority might influence STR regulations in 2025.
What’s Next for Michigan’s STR Community?
The Michigan STR 2025 Outlook was more than just a gathering—it was a launchpad for deeper connections, stronger advocacy, and shared growth among STR operators statewide. Moving forward, MiSTRA is committed to supporting the community by:
- Launching Local Chapters: MiSTRA will pilot the first local chapter in Traverse City this year, with plans to expand rapidly to other regions.
- Providing Resources: Offering guides, templates, and best practices tailored to Michigan’s unique STR landscape.
- Advocacy and Amplification: Advocating for fair regulations and taxation policies while amplifying the voices of STR stakeholders. MiSTRA also aims to support local communities in developing and implementing reasonable regulations where needed.
We’re excited to see what the future holds for Michigan’s STR community. If you’re not already a member of MiSTRA, now is the perfect time to join and become part of this growing network of passionate, dedicated professionals. Together, we can shape the future of STRs in Michigan!
(Interested in joining the conversation? Sign up for MiSTRA HERE.)