Ready to help property owners on both sides of rental debate
One hot issue that San Diegans will be watching in 2019 is the continued discussion of how to resolve the debate of short-term versus long-term rentals.
The prevalence of Airbnb, HomeAway and home rentals have made a big impact in San Diego, especially for the beach communities. At the core of the debate is who can rent a residential property for less than 30 days. This issue, which has been debated in San Diego for at least the past three years, at times has been quite divisive.
Short-term rental advocates believe they should have the right to use their properties in any way they want, including supplementing their income. They say short-term rentals are good for tourism and the local economy.
Opponents believe there are too many investor-owned second homes being used as short-term rentals, especially along the coast. What once were quiet neighborhoods are now neighborhoods filled with vacationers. The use of second homes as short-term vacation rentals reduces the number of long-term rentals, which adds to the problem of a lack of affordable rentals in the area, too.
In 2018, city officials had proposed ordinance restrictions that would have prohibited short-term rentals for a second home but would have allowed a home to be used as a short-term rental while the owner was absent for up to six months in a year. However, the proposed regulation changes were repealed after voters agreed in the November 2018 election to let voters decided.
San Diego voters will have the opportunity to have their say on the issue in 2020 when a referendum will be placed on the ballot. In order for the measure to be placed on the ballot prior to 2020, a special election would need to be held.
Some city officials have said they are concerned that placing the issue on the ballot eliminates any possible progress for the next two years. Additionally, some fear that large companies with a vested interest in the issue will spend big dollars to sway public opinion.
San Diego is not alone in its attempt to find a balance for owners and neighbors. Other communities across America are facing similar concerns regarding short-term rentals. Some municipalities have tightened their ordinances and written stricter guidelines to appease those who support short-term rentals and those who oppose them.
As a developer and property management firm, the professionals at Murfey Company can understand all sides of the argument.
Murfey Company’s real estate development division and construction division are ready to help the property owners of both short-term and long-term rentals.
The real estate development division, which specializes in urban development and investment, can assist owners return their short-term rental space into a long-term housing solution. Devoted to the core principles of truth, integrity and excellence, this division handles all aspects of real estate investment, including Entitlement, Project Management, Construction Management, Property Management, Brokerage, Leasing, and Financial Management.
The construction division of Murfey Company is able to assist property owners upgrade their short-term rental income potential and work with long-term home owners to build their lifestyle dream. Our first step in this process is to ask our clients: “How do you want to live?”
To learn more about Murfey Company, a leader in construction and real estate development for commercial and residential projects, please visit www.murfeycompany.com.
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