Georgetown, Texas Prepares for Short-Term Rental Changes
Hey there, Georgetown residents! If you’ve noticed those friendly short-term rentals popping up in our lovely city, you’re not alone. The City of Georgetown is making some changes regarding short-term rentals, commonly listed on platforms like Airbnb and VRBO, and this new direction could affect both hosts and guests.
Understanding the Numbers
According to the city’s latest estimates, there are approximately 222 short-term rentals scattered across Georgetown. Surprisingly, only about 30 of these rentals are currently contributing to the city’s coffers by paying the Hotel Occupancy Tax (HOT). This regulation is something the city is keen to address, as they foresee a potential increase in revenue—estimated at about $250,000—if all rentals comply.
Landon Smith, a local operator with more than a dozen rentals in Central Texas, adds an interesting perspective. He mentions the diversity of guests staying in these rentals, which range from people visiting for fun to those needing temporary housing for work or family commitments. The average stay in these STRs is approximately three days, though it’s not unusual for someone to stay for 30 to 40 days depending on their needs.
Why the Changes?
The city’s decision to revisit regulations is part of a larger trend. Their presentation highlighted that the growth of short-term rentals is only expected to continue, driven by visitors seeking unique experiences rather than typical hotel stays. Kim McAuliffe, the downtown and tourism director, explains that the city is adopting a phased approach to this rollout. They are actively collecting feedback and data to fully understand the landscape of short-term rentals in Georgetown.
New Permitting Process
So, what does this mean for homeowners who rent out their spaces? The city plans to implement an annual permitting process for short-term rental owners. This means that if you’re renting out your home or a room, you’ll need to apply for a permit annually. The application will require crucial details such as the physical address of the rental property and local contact information—someone who can be reached 24 hours a day should any issues arise.
Additionally, the city aims to ensure that the HOT is being paid, which will be verified using tracking software. This advanced technology will allow city officials to monitor how often properties are rented and anticipate the required tax payments, making it a diplomatic approach to taxation.
What Hosts Think
Interestingly, many hosts, like Smith, seem receptive to these changes. He believes reasonable regulations can create a sense of legitimacy. “Knowing it’s legal, got your permit, I think reasonable regulations are good,” he said, emphasizing how structure within the industry can actually benefit everyone involved.
The Next Steps
Before these changes come into play, there’s another council meeting scheduled to discuss the proposed alterations further. Mark your calendars because, if everything goes smoothly, these new regulations could take effect on October 15th. It’s a promising development that shows Georgetown is committed to ensuring a thriving and well-regulated hospitality sector.
Looking Ahead
As these changes unfold, it’s a fantastic time for Georgetown to reevaluate how our city welcomes guests and how those who choose to open their doors can do so responsibly. Let’s continue to make Georgetown a wonderful place to visit, stay, and call home!
