Webinar Summary: What Every Local Government Official Needs to Know About Short-Term Vacation Rentals
With the rapid growth of vacation rental platforms like Airbnb, VRBO, Flipkey and Homeaway, many local governments have been caught flat footed attempting to deal with the impact of an industry that was essentially non existent a decade ago.
Having met with more than 500 local governments, Host Compliance CEO Ulrik Binzer and Urban Planner Jeffrey Goodman use this webinar to give the need-to-know facts about short-term vacation rentals and how they impact communities.
Since 2008, the vacation rental industry has gone mainstream and there are now upwards of 35,000 new short-term rental listings added per month globally. There are at least 125 different vacation rental platforms and in an industry that is growing and fragmenting daily.
So why regulate? While letting the industry go unregulated can cause tension in communities, there is a proven process for developing rules to improve permit compliance and increase revenue.
Issues with parking, trash, noise and increased tourism can severely change the character of neighborhoods, but cities have the ability to set neighbourhood quotas, require adequate parking and garbage disposal.
Short-term rentals can affect housing availability and affordability, especially where there are hosts with multiple listings and properties. But regulations can allow governments to encourage hosting in certain areas at certain times to preserve the housing stock.
While there is a long-term trend toward accountability from these companies, they are focusing their lobbying efforts at the state level to introduce laws that will ultimately preempt cities from making rules that suit their community and limit their ability to solve these issues. Moving early is becoming increasingly important as existing regulations are grandfathered in, should there be changes.
It’s not all bad, though. This industry is an innovation that can positively impact local economies and there are tools that enable local governments to regulate and enforce effectively. By identifying two or three key issues that matter to the community, you can draft an enforceable ordinance that demands few resources and in many cases can pay for itself through permits and tax revenue recovery.
Watch the full webinar here with Ulrik Binzer and Jeffrey Goodman to hear more about the scope of the industry, regulation don'ts and how leading municipalities successfully regulate short term rentals.