Letter to the editor: Local officials are dodging the short-term rental solution | SummitDaily.com
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Letter to the editor: Local officials are dodging the short-term rental solution

Jake Deneault
Silverthorne

It’s time we hold local officials accountable and apply as much pressure as we can to encourage them to take the right steps for our community.

Unfortunately, it appears that local officials will continue to avoid the most effective and easiest solutions to our housing problems: restricting short-term rentals. We’ve seen the data, read the studies and heard what the experts had to say. Short-term rentals are the biggest driver behind our housing issues, and we cannot build out of this problem.

Short-term rentals fuel an insatiable demand. Units are being picked up by individuals and firms looking to generate revenue and build out their portfolios. Buyers who were hesitant before about buying a second home are more comfortable now because they can generate cash to offset the costs when they aren’t using it.



The committees that were formed to look at these issues will not make the appropriate decisions to fix things if the president and CEO of Breckenridge Resort Managers, the president of the Vacation Rental Management Association, the executive director of Summit Realtors and others directly tied to the short-term rental, real estate and building industries are involved. They aren’t making the right decisions because they can’t figure out a way to make a dollar off the fix.

Tough decisions need to be made, and the solutions won’t make every party involved happy. However, those steps need to be taken. Short-term rentals need to be heavily restricted. Lake Hill needs to be finished with the full density it had originally, and most of those units need to be long-term rentals not units for purchase. We need a moratorium on new building permits, and we need to focus on our current inventory. We don’t need more units to buy. We need more units to rent.



 

 


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