New study finds paths to more effective short-term rental regulations | Island Free Press (2024)

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Leave a Reply Leave a Reply Causey fires back at critics over dwelling insurance settlement Causey settles again with insurance companies, another rental home ... Bill repealing Dare housing money overrides now state law Dare County provides update on three Housing Task Force meetings h ... More Real Estate News Causey fires back at critics over dwelling insurance settlement Causey settles again with insurance companies, another rental home ... Bill repealing Dare housing money overrides now state law Dare County provides update on three Housing Task Force meetings h ... Dare County Housing Task Force picks up the pace Dare Housing Task Force to convene special April 22 meeting with s ... Dare Housing Task Force wants to incorporate more community voices ... Coastal property owners yet to embrace roof-girding grants N.C. Insurance companies ask for rate hike for mobile homes Anti-regulation sentiment may be fueling insurance crisis State offering free flood insurance online conferences this year Island Real Estate: Hatteras Island home sales and trends for March Real Estate News Archive Island Real Estate: Hatteras Island home sales and trends for March Friday is the last day for public comments on proposed homeowners insurance rate increase of up to 45.1% for the OBX Dare County expresses strong opposition to proposed homeowners insurance rate increase Public comments being accepted for proposed homeowners’ insurance rate increase of up to 45.1% for the Outer Banks OBAR seeks to rally opposition to proposed 42.2% homeowner insurance hike Insurance companies ask for hike on OBX homeowners’ insurance policies of up to 45% Island Real Estate: Year in Review Island Real Estate: Hatteras Island home sales and trends for December 2023 After more than two years, sewer moratorium lifted for Kinnakeet Shores At OBAR forum, concerns about property insurance rates Learn About Property Insurance at a Community Forum on November 2 Higher prices help set new monthly record in July for Dare County occupancy, meals collections Island Real Estate: Takeaways from the August 2023 OBAR Statistical Report Dare County launches new Bird’s-Eye Viewer Map Hearing set for April 2024 on request to raise North Carolina rental house insurance rates Public comment closes Friday on another insurance rate hike for rental houses in North Carolina Insurance companies ask for another rate hike on rental properties in North Carolina Dare County Water Department to increase new water connection fees Island Real Estate: Takeaways from the June 2023 OBAR Statistical Report Outer Banks attorney, Realtor Jeff Malarney elected chair of N.C. Real Estate Commission FAQs References
June 25, 2024 | Real Estate
New study finds paths to more effective short-term rental regulations | Island Free Press (1)

Rent Responsibly and the College of Charleston have released the 2024 State of the Short-Term Rental (STR) Industry Report, the largest study of its kind exploring the STR industry and the local STR regulatory landscape across the US.

Researchers surveyed more than 5,000 STR owners and property managers about their properties, operations, technology, marketing, regulations, and more.

Researchers also surveyed more than 2,000 local government staff and elected officials about their communities, including their housing supplies, tourism economies, STR ordinance provisions, and policy objectives.

The combined surveys yielded more than 130,000 new data points. The full report can be downloaded here.

Some key findings:

  • 94.6% of STR operators supported locally owned and operated businesses through purchases and referrals.
  • Most STR operators (75%) catered primarily to families, followed by wellness travelers, public event attendees, and corporate travelers.
  • 83% of government respondents reported their jurisdiction is facing an affordable housing shortage, citing the cost of building new housing, real estate values, and lack of space to build new housing as the top three factors having the biggest negative impact on their affordable housing supply.
  • Across the various solutions that government officials have implemented to alleviate affordable housing issues, those that were deemed most effective focused on increasing the new housing supply in their jurisdictions: opening new space to build new housing (55.3%), supplementing the cost of, or otherwise incentivizing, building new housing (50.5%), and creating more favorable zoning policies (45.9%).
  • A majority of government officials rank tourism as important to their local economies, and government officials rank guest spending as highly important to their jurisdiction, second only to property values.

Expanding on the inaugural 2022 study, the purpose of the 2024 research was to glean new insights that support strategic decision-making of both STR operators and local governments, from how to collaborate on effective community management programs to how to operate more responsible private accommodations.

“Over one million STR owners and managers and more than 30,000 municipalities in the US stand to benefit from the insights uncovered in this study,” said David Krauss, co-founder and CEO of Rent Responsibly. “This report shows there is ample opportunity for short-term rental owners and policymakers to engage on priorities that support local businesses, boost tourism, and respect community needs.”

Rent Responsibly partnered with the College of Charleston Office of Tourism Analysis on this research.

“This study allowed us to learn about a broad spectrum of local government communities and capture a diverse perspective of approaches,” said Brumby McLeod, Associate Professor and Riley Research Fellow at the Department of Hospitality & Tourism Management in the School of Business at the College of Charleston. “Particularly interesting to me were the views of staff, their work with short-term rentals, and the perceived effectiveness of their local ordinances. Rent Responsibly continues to get it right by listening to all stakeholders.”

Founded in 2019, Rent Responsibly is the community-building and education platform for short-term rental owners, hosts, and managers. Rent Responsibly’s mission is to empower short-term rental communities to collaborate and further responsible renting for the benefit of people, places, and planet. Learn more at RentResponsibly.org.

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Causey fires back at critics over dwelling insurance settlement

June 16, 2024 | Real Estate | 1

Causey settles again with insurance companies, another rental home ...

May 31, 2024 | Real Estate | By: Sam Walker

Bill repealing Dare housing money overrides now state law

May 21, 2024 | Real Estate | By: Sam Walker

Dare County provides update on three Housing Task Force meetings h ...

May 2, 2024 | Real Estate

More Real Estate News

Causey fires back at critics over dwelling insurance settlement

June 16, 2024 | Real Estate | 1

From SamWalkerOBXNews.com State Insurance Commissioner Mike Causey is countering criticism he received over last month’s decision to settle a request to raise insurance rates charged on rental properties for a second straight year. “As the Insurance Commissioner, it is my job to protect consumers by keeping rates as low as possible and maintaining a solvent [...] Real Estate| Full Article

Causey settles again with insurance companies, another rental home ...

May 31, 2024 | Real Estate | By: Sam Walker

From SamWalkerOBXNews.com North Carolina Insurance Commissioner Mike Causey has reached a settlement with companies that insure rental homes, which means rates for some coverage will be jumping again for a second straight year. The Republican who is running for a third term this fall announced late Thursday he had reached an agreement with the North [...] Real Estate| Full Article

Bill repealing Dare housing money overrides now state law

May 21, 2024 | Real Estate | By: Sam Walker

From SamWalkerOBXNews.com Governor Roy Cooper has signed a bill that includes rolling back a stipulation put on $35 million allocated to address housing needs in Dare County that would supersede town zoning regulations from blocking developments that used the funds. But the money will not be used for those purposes anyway, after a pair of [...] Real Estate| Full Article

Dare County provides update on three Housing Task Force meetings h ...

May 2, 2024 | Real Estate

The Dare County Housing Task Force held three meetings in April 2024. At its meeting held on April 16, 2024, Dare County Manager/Attorney Bobby Outten briefed the group on actions that have been taken by the Dare County Board of Commissioners to address the ongoing housing issues in the county, including the board’s recent decision [...] Real Estate| Full Article

Dare County Housing Task Force picks up the pace

April 29, 2024 | Real Estate | By: Mark Jurkowitz

From OuterBanksVoice.com The Dare County Housing Task Force, which has significantly picked up the pace of its work, will meet for the third time in two weeks when it convenes at the Dare County Administration Building on April 30. Among the items on the agenda is an effort to set up a future meeting schedule, [...] Real Estate| Full Article

Dare Housing Task Force to convene special April 22 meeting with s ...

April 22, 2024 | Real Estate | By: Mark Jurkowitz

From OuterBanksVoice.com Following up on a decision taken at the April 16 Dare County Housing Task Force meeting, that group will hold a special meeting on Monday, April 22 at 3:30 p.m. with State Senators Norman Sanderson and Bobby Hanig. The agenda for the meeting states it is being called to “discuss the housing challenges [...] Real Estate| Full Article

Dare Housing Task Force wants to incorporate more community voices ...

April 18, 2024 | Real Estate | By: Mark Jurkowitz

From OuterBanksVoice.com Meeting one week after the county commissioners voted to cut ties with its remaining affordable housing partner and return $35 million in housing funds to the state, the Dare County Housing Task Force made several decisions on how to move forward—including one that involves broadening and restructuring the group. Following the suggestion of [...] Real Estate| Full Article

Coastal property owners yet to embrace roof-girding grants

April 16, 2024 | Real Estate | By: Catherine Kozak

From CoastalReview.org Maybe one North Carolina insurance provider should join the industry trend and advertise: “Hello Beach Plan policyholders! Do you need a new roof? Want to save on your property insurance? How about we help you out with as much as $8,000 toward a much stronger roof that is fortified to withstand storms? And [...] Real Estate| Full Article

N.C. Insurance companies ask for rate hike for mobile homes

April 15, 2024 | Real Estate

North Carolina Insurance companies have filed a request with the N.C. Department of Insurance to increase insurance rates for mobile home policies. The North Carolina Rate Bureau, which represents insurance companies and is not a part of the Department of Insurance, has requested an overall state average increase of 82.9% for mobile home fire policies [...] Real Estate| Full Article

Anti-regulation sentiment may be fueling insurance crisis

April 8, 2024 | Real Estate | By: Catherine Kozak

First of a two-part series by Catherine Kozak, Coastal Review When Insurance Commissioner Mike Causey met last month in Manteo for a brief overview and Q&A with community members worried about property insurance issues, he stressed that his office had limited power over building code changes and insurance company business decisions in North Carolina that [...] Real Estate| Full Article

State offering free flood insurance online conferences this year

March 28, 2024 | Real Estate | By: Sam Walker

From SamalkerOBXNews.com Five online conferences will be held between April and October to provide vital information regarding the need for flood insurance in North Carolina. The 2024 conferences will be similar to the ones offered in 2022 through WebEx, and will be free of charge to the public, insurance agents, adjusters, real estate agents, engineers, [...] Real Estate| Full Article

Island Real Estate: Hatteras Island home sales and trends for March

March 12, 2024 | Real Estate | By: Stephen Smith

Real Estate Market Update – March 2024 My main takeaway from the latest Outer Banks Association of Realtors (OBAR) monthly statistical report was land – vacant lot inventory is down even further than it was last year. Residential home inventory is improving (thank goodness) but land inventory is trending the opposite way. I touched on [...] Real Estate| Full Article

Real Estate News Archive

Island Real Estate: Hatteras Island home sales and trends for March

March 12, 2024 | Real Estate | By: Stephen Smith

Friday is the last day for public comments on proposed homeowners insurance rate increase of up to 45.1% for the OBX

February 1, 2024 | Real Estate

Dare County expresses strong opposition to proposed homeowners insurance rate increase

January 20, 2024 | Real Estate

Public comments being accepted for proposed homeowners’ insurance rate increase of up to 45.1% for the Outer Banks

January 19, 2024 | Real Estate

OBAR seeks to rally opposition to proposed 42.2% homeowner insurance hike

January 17, 2024 | Real Estate

Insurance companies ask for hike on OBX homeowners’ insurance policies of up to 45%

January 6, 2024 | Real Estate | By: Sam Walker

Island Real Estate: Year in Review

January 4, 2024 | Real Estate | By: Stephen Smith

Island Real Estate: Hatteras Island home sales and trends for December 2023

December 13, 2023 | Real Estate | By: Stephen Smith

After more than two years, sewer moratorium lifted for Kinnakeet Shores

November 29, 2023 | Real Estate | By: Joy Crist | 1

At OBAR forum, concerns about property insurance rates

November 9, 2023 | Real Estate | By: Kip Tabb

Learn About Property Insurance at a Community Forum on November 2

October 24, 2023 | Real Estate

Higher prices help set new monthly record in July for Dare County occupancy, meals collections

October 5, 2023 | Real Estate | By: Sam Walker | From The: WOBX | 1

Island Real Estate: Takeaways from the August 2023 OBAR Statistical Report

September 19, 2023 | Real Estate | By: Stephen Smith

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September 7, 2023 | Real Estate

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September 3, 2023 | Real Estate | By: Sam Walker

Public comment closes Friday on another insurance rate hike for rental houses in North Carolina

August 24, 2023 | Real Estate | By: Sam Walker | 1

Insurance companies ask for another rate hike on rental properties in North Carolina

August 1, 2023 | Real Estate | By: Sam Walker

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July 26, 2023 | Real Estate

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New study finds paths to more effective short-term rental regulations | Island Free Press (2024)

FAQs

Can local governments regulate short term rentals? ›

While some communities prefer to prohibit short-term rentals in homes, others allow them but adopt regulations to ensure their compatibility with surrounding neighborhoods. In some cases, state laws limit the extent to which local governments can regulate short-term rentals.

What are two disadvantages of having many short term vacation rentals in your community? ›

These short term rental problems can be anything from excessive noise, more traffic coming through the neighborhood, vandalism, and even small things such as leaving trash out on the street.

What is the 90 day rule on Airbnb? ›

Airbnb doesn't allow properties to be rented out for more than 90 nights per year. If your limit for bookings is reached, Airbnb will automatically close your property until the end of the calendar year. In addition to 90 consecutive days, the 90-day limit also applies to 90 days spread throughout the year.

How to avoid Airbnb restrictions? ›

Establish a Business Title/Name

Make this your top priority. Legally, there is a world of difference between an individual and a business. Under a business name, you can acquire rental properties and then lease them. You can also list these properties legally on websites like Airbnb.

Why do local city governments choose to regulate the rental market for apartments? ›

Local governments are considering rent control initiatives to protect struggling tenants, but some analysts say restrictions only exacerbate the housing crunch and others have questioned if the true beneficiaries are actually low-income renters.

Are short-term rentals allowed in LA County? ›

The Short-Term Rental Ordinance/Title 22 amends Title 22, or the Zoning Code, to allow Short-Term Rentals (STRs) as an accessory use to existing dwelling units in zones that permit residential uses.

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