When real estate becomes a buyers’ market, investors purchase residential homes for short-term rental purposes. In other instances, the homeowner has the opportunity to improve cash flow by renting a portion of their home to vacationers. Vrbo, Vacation By Owner and other short-term residential rental services are leading the way in this holiday-home industry.
A downside of this budding market is that studies show that short-term rentals raise the rents for long-term residents by reducing the number of long-term rental units available and limits the sense of community.
There are those moments when a short-term neighbor brings challenges for the city and its residents with some undesired issues such as parties, trash, noise; after all, the family is on holiday.
The lack of regulatory structure inhibits the city’s ability to distinguish between the occasional sharing of one’s home and the full conversion of homes to hotels.
At Tuesday’s Clermont City Council meeting, the city unanimously approved regulations with regards to short term rentals (less than 30-days). The ordinance will provide regulations and conditions for a vacation rental permit program to be reviewed on a regular basis.
The Ordinance will be for whole-house rentals and include
- A Vacation Rental Permit is for the short-term rental and use of entire house and property (Maximum Occupancy 2 persons per bedroom permitted) **Exceptions for children under 13.
- Permitted in all residential zoning districts
- Duration/Time Frame (30 days’ maximum)– Not intended for long term rental of property
- Life Safety and Minimum Housing Standard Inspection Required. (** Applicant required to pay any inspection fees for life and building safety)
- Application and Fee for Vacation Rental Permit to be charged. ** Permit may be revoked if not in compliance with the Ordinance
- Floor Plan and Site Plan Required
- Current Registration with the Department of Revenue for (Income Reporting) to IRS
- City and County Tax Receipt Required
- Name and Address on File of Vacation Rental Representative/Management Company (must be located within 60 minutes of location for emergency purposes and must be available 24 hours per day, 7 days a week).
- Commercial Use of Property Prohibited
- Code Compliance Inspection of Vacation Rental Required, in the event the property is deemed a nuisance or inadequate after 3 consecutive violations shall result in the revocation of vacation rental permit and or code enforcement actions and fines.
- Any modification or changes to vacation rental property must be reported and permit updated to reflect the most recent changes.
