A Divided Town
Operating a vacation rental like Airbnb or VRBO can be a highly lucrative business. While some locals frown upon the idea of short-term renters in their neighborhoods, others realize the opportunity for financial profit and widespread prosperity for homeowners and local businesses alike. According to The Times-Call’s article on Longmont short-term rental regulations, 64% of the 330 residents who responded to a city-led survey on second-home ownership and property investors reported that they support the idea of allowing these types of vacation rentals in their community.
On the other hand, big issues for current residents who oppose short-term vacation rentals include; housing shortages for locals, increased hotel competition, busier road traffic, and tighter parking competition based on a report regarding The Longmont City Council’s recent hearing. However, “Banning second-home owners and investors from the short-term rental market would leave Longmont resident[s]… in limbo”.
It is important to consider both sides of the legislation, and Longmont is just one of many cities who are feeling the growing pains of short term vacation rental regulations in their neighborhoods.