Vail short-term rental registration at about 69%
Should Vail offer some kind of tax rebate to encourage long-term rentals?
VAIL — The latest effort to get owners to register their short-term rental units with the town is having some success.
After adjusting the regulations in late 2018, unit owners and property managers had until March 1 of this year to register their units.
The registration rules were adjusted to allow management companies and condo hotels to more easily register units, while still meeting requirements to have local contacts, notification of duplex neighbors and submitting affidavits confirming that units have basic life and safety gear including fire extinguishers as well as smoke and carbon monoxide detectors.
The regulations also call for suspending licenses for two years if more than three violations are confirmed.
Vail Town Attorney Matt Mire on April 16 told Vail Town Council members that as of the most recent deadline of March 1, about 69 percent of the units identified in town have registered.
Most of those registrations have some from management companies and condo hotels. A group of managers last year lobbied the council for changes to the regulations.
While town officials work to get more properties registered, council member Kim Langmaid asked the group if it should consider limits on short-term rental to help maintain long-term rental properties in town.
“Other communities are doing this,” Langmaid said.
Council member Greg Moffet countered that the market will likely solve the problem of losing long-term units.
“I know of several units that were long-term, and went to short-term,” Moffet said. “The owner have figured out it’s better to (go back to) long term… The trend is already starting to reverse.”
Town finance director Kathleen Halloran said data indicates that there’s almost constant change in the short-term rental market.
Council member Kevin Foley asked if the town could offer incentives to property owners to long-term rent their units.
Moffet said he could support that kind of incentive, adding that some sort of general tax rebate for full-time residents “might be an incentive to move or stay here.”
Vail Daily Business Editor Scott Miller can be reached at email@example.com or 970-748-2930.
Tourism and outdoor recreation employ a lot of people, but those workers’ wages are below county and regional averages.