I abhor any regulation preventing homeowners from using their home for legal purposes and that absolutely includes for short term rent. But.... Theres an ordinance in a township where I have a STR. They want to cap permits and existing/in good standing homes with a permit get first priority. Then its a waiting list. Some might never get that permit. My value (at least on ADR / RevPar basis) probably jumps 20-30% on day 1. We effectively go from a marketplace of non-permitted homes (100+) to only a permitted number of homes (20). I'm financially incentivized to see this legislation pass. But its a slippery slope because this may only be the start of language and codes to outright ban, including the permitted properties. But if not, then I'm moated. And if I'm moated, my returns jump up drastically. Am I conflicted. Absolutely. Will I speak out nonetheless in opposition of this proposed legislation (im all for permitting and best practices, but im against caps and restrictions (number of nights, number of bookings, eg)? Absolutely. We, as in should all jurisdictions, should code enforce the bad actors and invest in getting bad actors and underground operators out and not work and expend resources on restricting or harming the law abiding players.
@RyanDanz Sounds like you are in Oceanside. Hope to see you tonight 🤣