Why is making money a problem? If you have capital and you choose to go into the RE rental world, should you not be allowed to make money? FYI - its not so easy.
That's not the problem. It's that these things are literally hollowing out residential neighborhoods and turning them into resort villages. How would you feel if the street you lived on was now filled with STR party houses? We have areas that are zoned as residential for a reason. Short term rentals are a workaround for zoning rules as hotels and motels need to be in areas zoned for commercial use but STR's don't.
We are talking about resort areas. If you buy in a resort area, there has ALWAYS been the possibility that the house next to you will be a rental (seasonal/weekly/weekends). STRs did not invent party houses.
I do not live in a resort area so I do not have to worry about STR, seasonal rental , or weekly rental party houses.
I don't see this as a new argument for expensive living in mountain towns, or any happening place, really. It's about supply and demand. As it always was and will be. Now with social media and travel being affordable/easy demand for these old "unknown towns/areas" is even higher.
It ain't the wild west anymore, people have been there, seen it and #share it so the whole world can see how #rad they are which is the reason it's getting even more crowded people know it's there. And when the crowds come to check it out... people fall in love because mountain towns are sweeet.
Trains, Roads and Airplanes were the real threat to mountain towns. Once people had easy access they started a demand for STR... CONDOS & Hotels. Then consumer spends 10-20k and realizes... Hey why don't we just buy a place here? Now demand for HOUSING goes up. And prices go UP. So carrying costs/mortgages are higher...
IDK I just see AirBnB as the new scape goat rather than the tourists buying up the real estate. It's progress and unfortunately it's not all positive for all people.
It does suck for Hotels/Motels. The internet is vastly changing EVERYTHING. There will not be physical banks in 10 years... cars, houses, dog supplies are all purchased online for a cheaper price than physically.. Who is going to adapt first and figure out a way to make a living?
How do they compare? If it means more tax on working people than no. I know a few airbnb owners here in flagstaff and these aren't big time millionaires from Phoenix. I do know that taxes and the brackets are bullshit though. I have a friend that just got a promotion at her city job, this pushed her just over the line into the next tax bracket and now she makes less money.
Good Lord. What other fundamental mechanics of income taxation completely elude you? Posts like this make me support voting literacy tests. I really don't want this guy voting. If he can believe that nonsense, what other fanciful and baseless beliefs inform his choices in the voting booth?
Look, there's no harm in not knowing that (although, really.....dude. I'll bet you think that if you die without a Will, all your property "goes to the state".) But it does indicate that you're really clueless about fall-off-a-rock simple concepts of income taxation yet I'll bet you have pretty strong opinions about income taxes (ie: "I do know that taxes and the brackets are bullshit though.") So your opinions and views about taxes and "the brackets" are grossly misinformed yet you march those opinions right in to the polling booth and start pulling levers. Garbage in/garbage out and we end up with Trump for President and the other side nearly nominating an asshole like Bernie Sanders.
The Great American Experiment will end not with a bang but with a million idiotic posts on social media.
IMO part of the reason that these services became popular is because the rental agencies were doing a horrible job. I see it up here, they will put anyone in your house if their check clears the bank. By doing it yourself you can screen who you are letting stay in your place. The people that rent their places themselves have a better clientele than the people that rely on agencies. Like most people I can see both sides of the story. At then end of the day I think everyone should be on a level playing field. If you are using your property like a B&B you should be pay taxes in the same manner.
The point is that its alittle ridiculous for you to take some image you created of a generation and mischaracterize the group as such. Then you try to say, in spite of your generation having no issue with 'free lunch', that you aren't amongst them.
Welcome to the world of arguing with PeeTex and some of the other boomers on this board:
I say that not because I feel bad for Marriott, or Hilton, or Wyndham, or whatever huge Hotel Company is hot these days, but because it's awful hard to argue that the individual STR owner is doing something different than those hotel companies (they're both renting rooms to people, and if we've decided that such activity should be taxed, then we must tax each renter equally).
Unfortunately, I don't really know how to enforce such taxes. If Air B&B is forced into charging local taxes, people with rush over to HomeAway. If HomeAway is forced into taxation, people will go to WarmShowers. There will always be a new home share site popping up. Even if caught, home owners probably wouldn't have to pay. People will just say: "this guy is my buddy and he was just staying at my place for a couple of nights."
Only solution I see that's workable is to eliminate all occupancy taxes, sales taxes on hotel rooms, and any other taxes that Air B&B rental owners are exempt from. Then tax the hell out of land for everyone, homeowners and business owners alike. Maybe that's not a solution. But we have to start taxing things of value. And it seems to me that in some of these mountain towns, the most valuable commodity is land (even though there are usually enormous expanses of it within a 20-40 minute drive, especially out west).