HomeMy WebLinkAbout10-17-23 Public Comment - J. Rainey - STR Agenda - email in opposition of the banFrom:Jamie Rainey
To:Agenda
Subject:[EXTERNAL]STR Agenda - email in opposition of the ban
Date:Tuesday, October 17, 2023 12:08:41 PM
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I am writing in opposition to the proposed ordinance on banning short term rentals.
Banning short term rentals to achieve affordable housing is like trying to solve traffic problems with
outlawing large vehicles. Short term rentals do not equal long term rentals. When measuring one,
we cannot look at the performance of the other. They are not the same. The type of home or its
purpose within the city is not the true problem, it is the large influx of out-of-state buyers we’ve had
in the past 3 years. It is the simple economics of supply and demand. When there isn’t enough
supply and too much demand, the cost of the existing supply becomes more valuable. This is the
main driver of why homes in Bozeman are unaffordable. Banning a specific purpose for a home will
do nothing to move the needle within this economics equation. It will however create a monopoly
for the already too expensive hotels. Which begs the question, who really is the driver behind this
motion and who would benefit most. It is surely not the singular homeowners. Hotel chains have
much to gain if the ban goes through. Who else would this benefit?
The ban is a violation of personal property rights. As a homeowner, they have the right to do with
the property how they see fit. Many of these homeowners who do use their properties in the short
term pool have extended themselves into a financial risk and are attempting to use their asset to
work for them. That is a smart investment strategy that should not be infringed upon either. In a
way, the ban is a form of discrimination.
If the commissioners are truly looking to solve affordability, they should be looking elsewhere. There
are so many multifamily units being approved and constructed, but very few of them will/are
actually be affordable. Many are ‘luxury’ apartment buildings.
Short term rentals boost our economy by attracting more travelers. Bozeman hosts many events.
Limiting the places to stay would detour people from coming at all.
The following Economics Report for Montana 2023 explains the source of one of Montana’s largest
sources of income: tourism. https://www.bber.umt.edu/pubs/Seminars/2023/EconRpt2023.pdf
Thank you for your time.
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