HomeMy WebLinkAbout10-05-23 Public Comment - C. McLay - STR Owner and Bozeman ResidentFrom:Chris McLay
To:Agenda
Subject:[EXTERNAL]STR Owner and Bozeman Resident
Date:Wednesday, October 4, 2023 2:58:22 PM
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Hello,
I have lived in Bozeman since I moved here after college in 2002. I worked and saved and didall I could to be able to purchase property in Bozeman. In 2009 I bought a little 1000 sf house
on N Rouse that was originally built in the mid 1800s. I have lived in that house and madeBozeman my home. When the state widened Rouse I traded my front yard for adjacent land. I
have since built a second home on that adjacent property which I specifically designed to be avacation rental. My construction unfortunately coincided with the covid lockdowns which
nearly bankrupted me. I somehow got through the forced government lockdowns, materialshortages, and interest rate hikes to complete my project.
Now I am being warned that the city is looking into regulating to the point of effectively
shutting down vacation rentals in Bozeman. I have a huge loan that I can't pay withoutvacation rental income because I built this house as a business not a second home. The home
is too large to work as a long term rental because it would not bring in the revenue I need topay the mortgage, especially at today's interest rates of around 8%. I have been told the future
regulation will limit my property to 30% vacation rental time, which will put me intobankruptcy. What do you suggest I do when you guys use regulation to effectively shut down
my vacation rental business? Have you considered what your VRBO regulations will do to usBozeman residents who have built businesses based on the vacation rental model?
I see huge condo and apartment buildings going up all over town...why not let these units hit
the market, increase supply, and meet the demand for housing. Housing prices are a productof supply and demand. Government regulations cannot change the law of supply and demand,
but they can put us hardworking Bozeman residents out of business and into bankruptcy. Your regulations have very real and disastrous consequences for a lot of good honest law
abiding tax paying Bozemanites. Please take into account the fact that your regulations aregoing to destroy our lives.
Thanks much!
Chris McLay
608-774-2678
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