Short-term rentals take homes off the market
Short-term rentals (like VRBO) make it impossible for most families to live in some neighborhoods due to housing inflation.
STR operators have figured out that they can profit from converting long-term residences into STRs, resulting in fewer homes for new families, young couples, students, or anyone who typically cannot afford to compete with vacationers’ budgets.
STRs reduce property tax revenues for states and cities because STRs are primarily residential homes, which are taxed at a lower rate than hotels and businesses. STRs rarely pay transient occupancy taxes, follow fire and safety codes, or provide decent jobs with worker benefits for the cleaners and support staff required to service them.
An STR takes away a home that is needed to meet the needs of current residents. It does not make sense to take homes off the market to benefit the few STR operators when they are so disruptive to our neighborhoods, reduce housing availability, threaten our limited open space with dense development, burden our infrastructure, and create the need to build more homes. I urge the Groton Zoning Commission to protect and support long-term residents, use monitoring platforms to track, and prohibit STRs in residential neighborhoods.
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