Short-Term Rentals - Balancing Local Impacts and Economic Benefits

Short-term housing rentals (STR) continue to gain in popularity as a convenient option for vacationers, business travelers and people seeking a weekend gateway. Unfortunately, perceived and actual impacts on neighborhoods, community character and the availability of affordable housing continues to grow as well. While STR may have reinvigorated local tourism markets throughout the state, more and more communities are facing an important choice - should we take a hands-off approach for the benefit of our economy, or should we more strictly regulate STR to preserve local community character and keep local residents from being priced out? This session will offer a snapshot of local and regional STR markets, positive and negative impacts to local communities, and how various municipalities haven chosen to address the issue. The session will conclude with a set of workable suggestions to strike a balance between an out-right ban and reasonable regulations to preserve local housing markets, limit neighborhood impacts, boost tourism economies, and provide opportunities for homeowners to supplement their income.
Today's Presentation is presented by Laberge Group; Nicole Allen, AICP, Director of Planning and Community Development & Kevin Schwenzfeier, Senior Planner