The City’s desire to preserve and expand long-term rental stock takes precedence over a property owner’s desire to use their homes as an income source. The City Council voted (7-1) to approve an ordinance on first reading that adds new requirements for short-term property rentals. The owners must live in the home at least 275 days a year to prevent owners of income properties from engaging in short-term rentals. Other requirements and stipulations will be added as the ordinance goes through the hearing process.
A second reading of the new ordinance has not been scheduled. However, if the City wants to tax short-term rentals, as has been previously discussed, it will have to ask voters for approval.