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by codyb
2786 days ago
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I mean, that's a fairly easy question to answer. The rooted pay taxes, provide stability to a neighborhood, and are invested in the upkeep of their properties. They also tend to be better neighbors than a constant flow of random people who may not care whether they make noise, or disturb others. I certainly would be incredibly peeved if I paid a million dollars for a unit and then the person down the hall turned their apartment into a miniature hotel and had random people coming in and out at all times of the day that I'd never seen before. Beyond that, these units drive up rental prices, and avoid luxury taxes which can benefit locals to enrich the owners of AirBnB. |
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In other words, there's good reason to suspect that having a unit rented out to a succession of short term residents will produce more tax revenue for the city than having it occupied by one long-term resident.
As for stability, I don't think we're in any danger of destabilizing major cities from lack of long-term residents.
>>certainly would be incredibly peeved if I paid a million dollars for a unit and then the person down the hall turned their apartment into a miniature hotel
This should be decided by the contract you signed with your condo association when you purchased the property, not an arbitrary intervention in private contracts and property by the city.
Also, would it make any difference to you if the steady rotation of guests were not paying? If not, why not make the rule focused on the problematic condition, which is a large number of different people visiting/staying, rather than whether there was financial compensation?