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There are almost as many opinions on Vail’s short-term rental market regulation as available units.
After months of study and four presentations on the subject, Vail City staff members are ready to draft a new set of short-term rental regulations. This legislation will be an act of careful balancing.
The city’s desire to update the city’s short-term rental regulations – first approved in 2017 – has been on the rise for some time. Vail City Council members favor strict regulations, while others have a more liberal view of the current market. These views were expressed during the April 5 meeting of this board.
Mayor Kim Langmaid has long been a proponent of strict regulation of short-term rents, often citing concerns about the negative effects these rents have on the city’s residential neighborhoods. Langmaid also believes that raising tariffs could help strengthen the city’s housing stock.
Board member Travis Coggin is concerned about the “unintended consequences” of the regulation. Rising tariffs could lead to units being taken out of the market or used more often.
“If you increase my (registration and compliance) cost by 20%, I’ll probably increase my use to cover my costs,” Coggin said.
Board member Pete Seibert wondered if the new regulations could include a provision based on the number of rental nights a year. Exceeding this threshold could move a property from residential to commercial. This could have consequences for property taxes.
Board member Jonathan Staufer suggested that renting a unit for more than 30 days a year should move a unit to the business tax category.
Councilor Kevin Foley has mentioned more than once the need for the city’s registration system to cover its costs. This is not happening now. Foley also advocated more attention to complaints about unit tenants.
There have also been comments from the council about possible intrusions into the property rights of unit owners, as well as whether the city should limit the number of short-term rentals in a condominium or townhouse complex, or set a municipal limit. in the number of records allowed.
After lengthy reports at four meetings so far this year, City Attorney Matt Mire suggested bringing a draft ordinance to council.
Langmaid agreed.
“We need something that we can separate and find at least four votes (to approve),” he said.