Originally posted by @Brad Sicoli:
@Mary Mitchell
You gotta be kidding me! Here’s how str’s are GOOD for their neighbors and commuties:
1) as a str owner on both aIrbnb and vrbo I review my guests. Hotels can’t do that. If my guest has a bad reputation I can and have rejected them
2) when guests stay at my place they spend their money hyper locally, benefiting the businesses nearby.
3) I hire many professionals to maintain my property, most notably a cleaner i pay about $1000 per month and is a neighbor of mine.
4) my vacation rental will never be the eyesore on the block. As a thriving investment it is imperative that I maintain a professional clean appearance. Property values benefit from that.
5) and oh yeah, THE CONSUMER benefits. People want a different kind of vancation experience that isn’t the same old hotel. Despite all the taxes and regulations and hotel lobbyists the demand still exists.
I don't have a dog in this fight. It's interesting for me though from the outside perspective. I luckily live in a HOA (never thought I'd say that) which flat out restricts STR's, thank goodness. Because as a owner occupant and resident in my neighborhood the idea of having a revolving door next door to me in my residential neighborhood would destroy our neighborhood.
But to go down your points just to devil advocate you.
1) you can’t compare a hotel that is in a area zoned for a hotel versus a single family home in a neighborhood. You are still introducing a business establishment into a residential area. There’s a reason there are zoning requirements. With that logic I can start doing light industrial out of my garage because, well it’s my property.
2). That's an assumption and even if true may only be specific to your individual STR. Again they could stay at a hotel 3 blocks away and spend their money in the same "hyper local" way and buy their avocado toast from the local restaurant too. (I kid about the toast).
3) What does that have to do with the legality and issues that arise from having a “hotel” in a residential neighborhood? I pay my housekeeper a similar wage in comparison to the work provided.
4). That's great your one of the 80% (made up statistic to make a point) that cares deeply of ensuring a higher quality STR. Now I bet if your next door neighbors home had a STR and was at the bottom 1% of caring you'd be throwing a fit. But don't worry it's all something that can be fixed by a law limiting STR for your area, you in board now that it's your residential home being affected.
5). That's great that consumers want something different, doesn't negate the fact that an STR is a hotel, bed and breakfast, or whatever new age name you label it as. The citizens of the town/city should be able to have their tax dollars work for them, not prop up a unregulated industry. I welcome a STR regulation for any area, one that is taxed properly and regulated.
You aren't thinking of how this effects the citizens of the location you have your STR in, just seeing how your ROI hasn't increased. That's great hopefully you and other STR investors took into account rules and regulations when you purchased the property to make sure it is still profitable.
