Local governments across Arizona are pushing the state to further regulate the short-term rental industry through three proposed changes in the law, which city leaders believe can help stop Airbnb-style businesses from claiming more homes in communities that are already struggling to provide enough housing for residents.The proposal would give local officials the power to limit how many rentals can operate within their borders. It was unanimously backed by the League of Arizona Cities and Towns on August 31, a group made up of elected officials from 91 communities across the state.By casting a “yes” vote, all of those local governments agreed to pitch in on lobbying state lawmakers to enact the new regulations during the next legislative session, which begins in January.Specifically, the proposal includes rules that would allow local officials to:Put a cap on how much of their local housing market can be occupied by short-term rentals. A city might prohibit less-than-30-day rentals from taking up more than 10% of its houses, for example.Limit the density of short-term rentals by neighborhood. This is similar to the first proposed change but would apply to specific areas of a city so that whole neighborhoods aren’t consumed by rentals.Require short-term rentals to be spaced out. Cities could require short-term rentals to be no less than three houses away from another rental property, preventing residents from being surrounded by the businesses.The changes are primarily meant to combat housing shortages, which local officials partly blame on a 2016 state law that barred cities from regulating the short-term rental industry. It undid longstanding bans on the businesses in many cities and caused their number to skyrocket, leading to a wide range of problems, according to city leaders.”Mayors throughout Arizona recite horror stories about (short-term rentals),” said …
Real Estate Investing @Arizona