Quote:
Originally Posted by Lakegeezer
While I understand the sentiment against short term rentals and the desire for more regulation, it's important to acknowledge that there is another side of the coin.
As a real-life example, consider an elderly couple who bought their lake house in the 1950s but aren't necessarily wealthy. Now, the widow requires constant nursing care which can be incredibly expensive. The income generated from a short term rental is actually paying for her care and helping to keep the house in the family. This may be their only option to keep the property and retire there in the future.
It's important to consider the individual circumstances and potential benefits before dismissing short term rentals altogether.
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This is totally an example that anyone would support. But, I think that everyone and their brother buying up the real estate in the lakes region to build an air bnb empire isn't good for the local economy or people who live in the area full time. This is part of what drove up prices by 40% over two years, which is an unsustainable pace.
Personally, we are considering buying a second home in the area, but we would not rent it out. We want to be up there as often as we can and one of the major factors we are considering is stability of the neighborhood and the proportion of people who live there at least 50% of the year. There are many short term rental owners who do a fabulous job of managing their properties, but there are just as many who rent to noisy, messy groups of people and don't enforce the rules. No one wants to live next to the latter group. The only way to standardize this sort of short term rental issue is to put in place regulations that will preserve the community for those who actually live their, and towns are right to put their citizens ahead of rental owners who manage from afar.