According to the Las Vegas Review Journal, the City Council has proposed a new ordinance that would: place a ban on "short-term vacation rentals" -- in this case, renting a residence for "dwelling, lodging or sleeping purposes" for fewer than 31 days -- in residential zones.
While none of us want to live near a "nuisance", I am conflicted on this. What about single family dwellings that have multiple families living in it and cause the same amount of "nuisance" as a "party" home? What about the laws already on the books? What if people have out of town guests frequently? (which I am sure many of us do!)
An editorial written in today's LVRJ suggests:
For that matter, it turns out short-term rentals are already banned under the Las Vegas city code -- along with excessive noise, disturbing the peace, prostitution and public drunkenness.
Many vacation rental landlords already side step the law by not operating without a business license, entering overlapping leases (so the property is leased to more than one person at a time), fail to collect lodging tax and their property is a commercial property zoned in a single family area.
Why not just enforce what is on the books? To me it seems easy but maybe I am not reading enough into it.
Now wouldn't that be common sense? All the Best,
Realtor®
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Renee@ReneeBurrows.com
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Renee,
I think they are smart to get rid of the Short Term Rentals, but I really don't see them going away.. it does complicate Financing when you have so many rentals..
Tom Weiss
BB: They have communities like such here and it isn't a bad idea or concept. There aren't that many so it would actually be a fabulous solution.
The problem is that there is already a law on the books for short term rentals and the owners skirt around it by doing longer and overlapping leases. How exactly is another similar law going to suddenly make the non-law abiding vacation rental owners into law abiding landlords?
Thomas: Dollars to donuts that most are financing them as owner occupied. When you look at tax records for rentals they are listed as living at the property. No complications, just fraud :)
Renee, this is an interesting topic. I'm personally in favor of short-term rentals. You will finf rowdy people everywhere, not just in "party houses."
As long as the city gets its TOT and the owner is licensed and the HOA has no problem with it let 'em be.
Bill Roberts
Cyndee: I had a suspition that this was going on in more than one resort community.
Bill: Living next to regular rentals on both sides I hear you. One landlord can screen good, the other not so good. The nature of this town is 24/7 and living here is not for the faint of heart. It hardens you both mentally and physically to keep up with the diverse nature of this city. I am not talking about anything that violates fair housing, I am talking with lifestyles that are 24/7 if you know what I mean :wink wink:
Jonathan: It is actually a good way to produce positive cash flow if you bought post 2004.