Short-Term Rental Solutions Helps Communities Increase Revenue and Efficiency
Short-term rental listings are expected to grow by nearly 21% in 2022. However, localities are finding it harder to effectively monitor and tax these properties.
The fragmented market (125+ platforms) makes it nearly impossible for government leaders to monitor and identify 100% of listings while maintaining compliance. At the same time, owners continue to skirt short-term rental occupancy taxes that go toward schools, fire departments and other important community services.
We recently spoke with the Director of Community Services, Gustavo Roman from the City of College Station, TX to discuss his approach to addressing the gap in Hotel Occupancy Tax revenue the city was experiencing.
In summary we covered some of the outcomes of their approach that included:
Establishing a Short-Term Rental Ordinance
Identifying over 400 non-licensed STR’s in first 4 months
Uncovering over $100K in newfound Occupancy Tax Revenue
Establishing a 24/7 Hotline & Portal for Citizens
Creation of a “level playing field” for all Hotel and STR operators
If you are interested in gaining a better understanding of what YOUR short-term rental community looks like and where it’s trending, we’d like to send you a custom dashboard comprised of data from more than 100+ STR websites.