DC Stands to Lose $120 Million with Anti HomeSharing Bill
The DC City Council meets tomorrow, November 13th, 2018, to vote on the future of short-term rentals a.k.a home sharing in Washington D.C. The council has previously delayed voting on the bill over concerns of a lack of an open and public process and a heavy handed influence by the hotel lobby that would impose some of the most restrictive laws against individual citizen’s private property rights – more so than New York City and San Francisco.
The bill, B22-0092 – Short-term Rental Regulation and Affordable Housing Protection Act of 2017, would according to several studies and reports, virtually kill the short-term rental market in DC and the tens of millions of dollars it generates via city tax revenue and an added boost to local businesses in neighborhoods where hotels don’t exist, where there also is an over supply of large high rise apartments that are mostly vacant.
Many Cribline readers have been engaged in this debate and feel that the city council has rushed this process in order to avoid opposition. There are also concerns mounting about how the city plans to pay for the new bill and cope with the loss of over $120 million dollars that home sharing brings to the city.
This does not include the cost of creating the licensing process, staffing the department, or factor in the economic benefit short-term renters and hosts bring to neighborhoods.
So what happens now? If the bill receives a majority vote share of the council members 13 votes tomorrow, it will advance to the Mayor’s Office for review- and then to the U.S. Congress for another review-before its projected to take effect October 1, 2019.
The final vote tomorrow is open to the public. During the last hearing there were numerous people from outside DC bused in and allegedly paid to attend the hearing.
If you are a homeowner in the district or proponent of HomeSharing please consider attending.
We will keep you abreast of the latest developments.