The Vail Town Council will be reviewing information gathered from the community on possible updates to policies governing Vail’s short-term rental market during the regular evening meeting on Tuesday, Aug. 1. The presentation and discussion item is listed as 4.2 on the meeting agenda which begins at 6 p.m. in the Vail Town Council chambers. Public input is encouraged.
Tuesday’s discussion will include an overview of themes that have been identified following a series of input sessions from town boards, the community at large as well as an online survey. The sessions probed opinions on topics such as the licensing/taxes/application process, quality of life/community, enforcement, life safety, effect on long-term housing, Vail lodging quality standards/fair competition and benefits of short-term rentals.
Results of the information-gathering will be presented by representatives from the town staff as well as RRC Associates which has been hired to facilitate the community outreach. The discussion will include a presentation of options for additional regulations that would address both the benefits and issues that have been identified. Those options are contained in a staff memo.
Currently the town has three requirements for short-term rentals: a business license for any owner renting a unit more than 14 days per year, a posting of a Vail sales tax account number on all advertisements and remittance of sales and lodging taxes. This has resulted in 310 business licenses issued to individuals by the town for short-term rentals and another 620 units represented by property management companies. The individual rentals generated over $600,000 in taxes during 2016. However, an independent study commissioned by the town estimates another 1,400 properties doing business without a license. The study, conducted by DestiMetrics, also compiled a comparison inventory of regulations from other destination resorts and found Vail’s regulations to be less restrictive than many others.
Based on direction provided by the Town Council during Tuesday’s session, the short-term rental topic will be scheduled for another discussion during the Sept. 5 meeting with potential policy considerations and/or presentation of additional research. Possible updates to the ordinance governing short-term rentals would be considered during the fall with a recommended implementation date of Jan. 1 to provide adequate time to notify property owners and implement appropriate internal processes and systems. The Jan. 1 date also corresponds with the annual business license renewal period.
For more information, contact Kathleen Halloran, finance director, at 970-479-2116 or firstname.lastname@example.org. To forward comments in advance of the Aug. 1session, email the Town Council at email@example.com.