Much like other areas of the country, the counties that make up the Hudson Valley have experienced significant growth in their short-term rental markets. With the injection of money from tourists come similar obstacles that other popular areas have been faced with. Residents in these areas have begun voicing concerns over the impact short-term rentals have on their respective communities. Overall the opinion has been that an all-out ban is not the ideal solution.
How to Best Regulate Airbnb’s and Vrbo’s
In the counties of Ulster and Dutchess, various forms of regulation have been proposed in order to tackle many of these concerns. One such example includes the prohibition of room conversions. That is, taking rooms that were not originally designed as bedrooms (i.e storage, studies, offices) and converting them to serve as bedrooms. Other regulations address safety concerns whereby rooms and facilities were up to code. Making sure that there were adequate fire escapes were among the conditions being proposed. As a whole, the short-term rental industry benefits from regulation as opposed to outright bans.
Compromise, Except on Insurance
Compromises are the best way to ensure that the concerns of all concerned parties are represented. In this case, the aforementioned counties recognized the economic benefit that the short-term rental market can provide. In addition, they have entertained the concerns of the permanent residents of the area. Many localities have passed requirements that operators of short-term rentals obtain liability insurance for the properties that they are renting. Doing so ensures that neighbors of these properties are protected from the rare, although unfortunate side effects of operating a short-term rental. In short, being insured means being a good neighbor. Making sure your property is properly insured is key, regardless of the community’s regulatory stipulations. Commercial insurance for the short term rental business you operate is necessary, while fully complying and often exceeding the insurance often required by the city, or county your Airbnb business is located in. Get a quote here, or call us at 888-631-6680.
Community Support for Airbnb’s and Vrbo’s
There is much to say about companies building healthy relationships with the communities in which they operate. Short-term rentals are not different. Without the support of the community, it is entirely possible and probable that legislation can take place to ban the practice. Conversely, Citizens should be able to utilize the properties they own as they see fit. In addition, the injection of money into the local economy is beneficial as well. It is not easy to balance the interests of multiple parties, however it seems that the local governments of Ulster and Dutchess counties are on the correct path to this.