Nobody is talking about it or mentioning it yet – but I hear there was a VOCA meeting last weekend that had a very unusual – if not unbelievable – result. For the last 10 years Short Term Rental buyers have descended upon Sedona and the price delta between the city of Sedona and the VOC has widened. Short term rental buyers have been focusing on the city properties because the city of Sedona could not make rules against STRs. The VOC on the other hand is not a municipality – but it’s an organization that provides the framework of management for all of the HOAs in the Village of Oak Creek (unincorporated Sedona). For years they’ve been hard and fast AGAINST STRs – and have given cease and desist orders for any owners trying to circumvent the rules.

There was a lawsuit against VOCA fighting this rule and apparently VOCA lost – so last Saturday they said that their 2016 ban on STRs was unenforceable – which opens the door to STRs in the VOC. I’d guess that they’re going to keep track of the numbers of overall units similar to the way the city of Sedona has been operating – but it’s yet to be determined.

There are probably more questions than answers – but there will certainly have financial implications on properties in the Village and likely the city of Sedona as well. Stay tuned!