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HomeMy WebLinkAbout240528_Draft STR Regulation Options.pdfOptions for Regulating Short Term Rentals* DRAFT for Discussion 1. Do nothing – leave short term rental (transient rental) defined as < 14 days Pros: • No code changes needed Cons: • Allows business model to continue for short-term rentals (14-29 days), basically unregulated • Continues the commercialization of homes in neighborhoods. • Continues to keep homes out of the year-round or for-sale market. • Continues to be a challenge for code enforcement 2. Do not allow any short-term rentals (<30 days). Ban them entirely. Pros: • Removes the commercialization of homes in neighborhoods • May open up housing stock for sale or year-round rental • May be more incentive for homeowners to add an ADU • Still allows homeowners to rent seasonally (30 days or more) • May be less onerous to enact necessary code changes than for other options • May make enforcement easier • Keeps rental permit process simple Cons: • Would not allow homeowners the opportunity for earning additional income by renting their primary residence on a short-term basis • Limits who would be able to afford vacation rentals of homes here • May continue the commercialization of neighborhoods if LLC’s pivot to seasonal rentals only. 3. Limit the ability to have a short-term rental to owner-occupied homes where it is their primary residence Pros: • Allows homeowners to supplement income on a short-term basis • Owners have a greater stake in ensuring renters abide by the code and their property is well maintained • Removes the commercialization of homes in neighborhoods • May open up housing stock for sale or year-round rental • May be less onerous to enact necessary code changes than for other options • Greater probability of $ generated staying here Cons: • May remove the incentive for homeowners to add an ADU 4. Limit the number of short-term rentals town-wide a. Number per hamlet or neighborhood, b. By zoning district – allow in some and not others – commercial use = commercial zones Pros: • Allows some of the business model STR’s to continue • May expand (as compared to banning them) who can afford to vacation here • May return some homes to the year-round rental or for-sale market Cons: • May not remove the commercialization of homes in neighborhoods • May not result in returning homes to the market for purchase or year-round rental • Complicates rental permit management & enforcement. • May not benefit homeowners who rent out their primary residence. 5. Limit the number of short-term rental units to one per natural person Pros: • Similar to limiting total number in Item 4 above. Cons: • Similar to limiting total number in Item 4 above. 6. A combination of approaches listed above Example – limit the non-owner-occupied to certain zoning districts, but allow those who are renting their primary residence to do so in any zoning district. (Cons: might be too complicated) * For effective compliance: it is recommended that every option or combination of options, require its own rental permit. Additional code enforcement & permit-issuing resources will be needed as well as the adoption of policy and procedures.