I do not see any need to pass additional laws to regulate STVRs. As Flyer said, if there are noise problems, enforce noise laws.
STVR are already subject to a huge hotel tax.
Think of the numbers here for a basic 1/1 condo in OB:
Annual rent on long-term lease: $20,000
City revenue from that rent: 0
Average sales tax per day from resident living there: $30*7%= about $2 or about $700/year.
Total city taxes collected: $700/year
AirBNB: Annual rent $90/day off seasons $150/day on season = $40,000
Hotel tax = $5,000
Sales tax on $80 a day in visitor spending = $2000
Total city revenue from AirBNB $7000/year
I may be off a little on some of these estimates, but I doubt it is that much. The city collects about 10 times more in taxes from an AirBNB then a rented condo, and this is only the direct economic effect.
This AirBNB is going to have to be made up one way or another. How much in extra taxes or cut city services are you willing to deal with to ban AirBNB?
