A newly-proposed ordinance would decimate the US Capitol’s robust short-term rental market, depriving home-owners of their property rights and hurting neighborhood restaurants and small businesses that benefit from short-term rentals in the District of Columbia (DC).
The proposed restrictions on short-term rentals, to be released later today, are accompanied by a half-million-dollar ad campaign funded by the big hotel chains – who want to eliminate competition from short-term rentals. LaSalle Hotel Properties’s CEO told investors that a law curtailing short-term rental services would allow hotels to boost their room rates.
“Washington DC already gives millions in tax breaks to big hotels, and Council should not give hotels another handout by curtailing the property rights of District home owners,” said Carl Szabo, General Counsel of NetChoice.
Short-term rentals provide much-needed income to hundreds of DC residents. Over 52 percent of short-term rental hosts nationwide live in low-to-moderate income households. And almost half of the income hosts earn through short-term rentals helps them cover household expenses. Moreover, there are hundreds of local restaurants, shops, and cleaning services that benefit from the activity of short-term rentals.
“This legislation has been marred by misinformation and process problems and should not be rammed through in the closing days of this year’s final Council session. This issue deserves a robust public discussion and economic impact analysis,” continued Szabo.
“This bill will harm thousands of DC residents who rely on short-term rentals, not just home owners, but small businesses that benefit from the economic boost created by short term renting.”