![]() Petoskey prohibited new short-term rentals in residential areas in 2014. “A lot of units that have been workforce housing historically are becoming vacation rentals.” “I’m getting a call probably every other week from someone looking to buy a house, and they want to know if they can do a vacation rental - that’s probably the biggest question we get,” says Amy Tweeten, Petoskey’s city planner. ![]() ![]() In Petoskey, officials worry that the increase in short–term rentals might radically alter the housing market and strain the ability of businesses to hire workers. Shutting down rentals, on the other hand, takes away property rights and income from homeowners and might mean fewer tourists and more houses sitting empty. Permissive vacation rental rules likely raise property values and increase tourism - but might also unfairly compete with hotels, strain availability of affordable housing, disrupt the peace and turn off homebuyers who want to live in a residential neighborhood. Now officials in local municipalities are weighing how to respond. The trend accelerated in recent years as websites like Airbnb and VRBO have exploded the market for short–term rentals. ![]() ![]() Local Governments Facing Down The Airbnb Phenomenonįor some, vacation rentals are an enticing way to own a little bit of heaven Up North - buy a home on the water, stay for a few weeks in the summer and pay for it by renting the property short-term for the rest of the year. ![]()
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