Press release from No Ban 4 Buncombe:
Local industry leaders, business owners and property rights advocates launched an advocacy campaign to raise awareness about the negative impact that a short-term rental (STR) ban would have on Buncombe County’s economy. The ban is scheduled to be discussed at today’s public listening session for the Buncombe County Planning Board before being considered by the full County Commission as early as May.
Recent studies show that STRs have a notable impact on Buncombe County and its local economy – generating about $700 million in economic spending and providing close to 9,500 jobs to those in the community annually. This thriving tourism economy helps support thousands of jobs and boosts local small businesses annually.
Supporters of the STR county-wide ban cite the need to increase options for affordable housing, but other communities that have implemented bans show that it does not help decrease the price of housing or rent. With only 3.5% of total county-wide housing stock in the STR category, banning would not make a significant impact in expanded housing inventory or affordable housing options for residents.
“We all agree that it’s critical to find ways to expand housing inventory and specifically affordable housing options in our community. This advocacy group is committed to working alongside county leaders, residents and homeowners to help find housing solutions that do not jeopardize the local economy,” said Chip Craig, Owner of GreyBeard Realty. “Banning simply doesn’t work. Look no further than Asheville, which banned short-term rentals years ago, and now has among the highest rent prices in the region.”
Many short-term rental property owners are local residents, who use their personal investment as a much-needed revenue stream – benefiting from the region’s significant tourism economy that they otherwise would not have access to as a resident. A ban would limit the ability for county residents moving forward to draw revenue from property investments, and could negatively impact the small businesses that rely on short-term rental visitors.
To learn more about the growing campaign, the local STR industry or the impact that STRs have on Buncombe County’s economy, visit www.noban4buncombe.com.
Keep tourists out of our neighborhoods! I never signed up to live next to hotels! Why do these business owners get to operate mini hotels in our neighborhoods and pay the same tax rates? I want REAL NEIGHBORS again! The greedy will always be greedy and find other ways to profit.
They don’t pay the same tax rates. They pay an additional state tax and an additional occupancy tax. The STR owners in our neighborhood are families that use the income to help get their kids through college/university, supplement their incomes and save for their retirement. “Greedy” is not a word that I would associate with the owners that I know.