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With the increase in vacation home ownership and nightly rentals such as Airbnb and VRBO, City Council is interested in understanding the short-term rentals in-depth and whether short-term rentals are impacting the community as it pertains to tenants, neighborhood character, sales and lodging tax collection, as well as safety and enforcement.
What is a Short-Term Rental?
A short-term rental is a furnished living space available for short periods of time of up to 30 days. Short-term rentals are also commonly known as vacation rentals and are considered an alternative to a hotel.
Understanding short-term rentals
Many people who own a second home or vacation property generate income by renting out their home when they’re away.
Because short-term rentals are most often used by people on vacation, stays might vary from a few nights to several weeks; some are leased for as long as a month.
Over the last 10 years, the use of shared economy brands like VRBO, HomeAway and Airbnb has exploded. Staying in short-term rentals is so common that many companies allow employees to expense their stays just like a hotel room.Homeowners choose a short-term rental strategy for income potential, marketing automation (through sites like Airbnb), overall flexibility and tax benefits. Short-term rental requires less commitment than a long-term lease and tenant, and works well if the homeowner wants to enjoy the home themselves.
That said, short-term rentals do have drawbacks. Owners are responsible for cleaning, coordination and maintenance to keep the property in guest-ready condition. Seasonality can also play a part in whether a rental will be in demand — meaning owners might have to give up personal stays during the most popular times of the year.
Local restrictions are another critical consideration. Each city or county defines what qualifies as a short-term rental property, and the fees are hefty for homeowners who rent under the radar. Owners should verify local regulations, zoning, taxes and licensing before leasing their property.
With the increase in vacation home ownership and nightly rentals such as Airbnb and VRBO, City Council is interested in understanding the short-term rentals in-depth and whether short-term rentals are impacting the community as it pertains to tenants, neighborhood character, sales and lodging tax collection, as well as safety and enforcement.
What is a Short-Term Rental?
A short-term rental is a furnished living space available for short periods of time of up to 30 days. Short-term rentals are also commonly known as vacation rentals and are considered an alternative to a hotel.
Understanding short-term rentals
Many people who own a second home or vacation property generate income by renting out their home when they’re away.
Because short-term rentals are most often used by people on vacation, stays might vary from a few nights to several weeks; some are leased for as long as a month.
Over the last 10 years, the use of shared economy brands like VRBO, HomeAway and Airbnb has exploded. Staying in short-term rentals is so common that many companies allow employees to expense their stays just like a hotel room.Homeowners choose a short-term rental strategy for income potential, marketing automation (through sites like Airbnb), overall flexibility and tax benefits. Short-term rental requires less commitment than a long-term lease and tenant, and works well if the homeowner wants to enjoy the home themselves.
That said, short-term rentals do have drawbacks. Owners are responsible for cleaning, coordination and maintenance to keep the property in guest-ready condition. Seasonality can also play a part in whether a rental will be in demand — meaning owners might have to give up personal stays during the most popular times of the year.
Local restrictions are another critical consideration. Each city or county defines what qualifies as a short-term rental property, and the fees are hefty for homeowners who rent under the radar. Owners should verify local regulations, zoning, taxes and licensing before leasing their property.
We are looking for feedback on your current experiences with short-term rentals in your area. We have proposed a new short-term rental policy that may impact your neighborhoods and want to make sure we are on the right track. We thank you for taking the time so provide input.
