short-tern rentals in your hood?

[pinkytoe]

Our neighborhoods are battling with the city over whether or not to allow short-term rental houses in 1% of each zip code. For my zip code, that would be 450 homes. Apparently, they are often corporately owned. I have to admit that when we travel, I love to rent a house vs hotel but not sure I want to live next door to one. What do you think?

[iris lily]

Our neighborhoods are battling with the city over whether or not to allow short-term rental houses in 1% of each zip code. For my zip code, that would be 450 homes. Apparently, they are often corporately owned. I have to admit that when we travel, I love to rent a house vs hotel but not sure I want to live next door to one. What do you think?

Well, it's better than public housing.

A rental that turns over a lot is, theoretically, never a good thing to have as a neighbor, but if it rents to out of town business types that might be ok. Our friends who own lotsa properties around here have one of those short term rental just 1/2 block from us and it has been fine, but the short term people actually have ended up stayiing multiple months. And, it is expensive. PRice point will control a lot of riff raff.

If it is a group of vacationers that could mean a lot of loud, drunken parties, or it could mean exhausted families that go to bed at 9 am. Impossible to know.

[jennipurrr]

I own three short term rentals. There have been a lot of battles like this in certain parts of Hawaii and Key West, I believe.

My city is a bit unique. We have seven events a year people will pay uber-money for. My condos' rent for one weekend is almost double what the monthly rent would be. Our complex realized early on when this thing started cropping up that tenant quality is a lot higher with the short term guests and everyone makes more money. We will rent short term other parts of the year but prefer to get in a co-op or grad student with one or two semesters left. When we have rented short term its often people bringing their kids to school, here for a summer program, etc. Its a far cry from a boarding house situation.

Only the historic districts and some super expensive condos have put up a fight, and its been a wilted battle. I know several people who rent out their homes short term in the historic districts despite official codes not to...with your private residence you also get the benefit of it being tax free as long as it is 14 days or less per year, happens to correspond very nicely to our 7 weekends. The city got in pretty quickly to tax short term rentals as hotel lodging, so we had to pay the piper there as we had been doing taxes at the regular rental rate (10% vs 1%, ugh).

I think it totally depends on the locale. I am still trying to convince DH we should rent out our personal home a couple times a year...so far I have not been successful in that battle, but we'll see.