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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.

 

 

Avenu Insights & Analytics Launches Full Scale Short-Term Rental Solution

Avenu combined its 40 years of experience in both software solutions and revenue enhancement services to develop proprietary analytic software which identifies all rentals on Home Away, Airbnb, Flip Key, Craigslist and other sites. A key differentiator for municipalities is the precision and detail that is provided of STRs, which includes the complete and exact address, full name of the owner/operator, and estimated minimum sales.

Clients will be provided a dynamic and interactive dashboard to search areas by map, instantly receive rental inventory statistics, and view the full case history of any property. The tool is also mobile enabled to simplify field investigations.

The other key area of support Avenu is offering is a 24/7 hotline and web-portal for citizens to log any noise or pollution complaints about STRs in their area. The goal of this feature is to take the burden of fielding and tracking complaints off the hands of local governments while readily providing the necessary information so action can be taken.

“As the STR market continues to evolve and grow, it has raised ever increasing challenges that impact economic development, property rights, taxation, and revenue collection for local governments,” stated Avenu CEO, Paul Colangelo. “We are proud to support local communities as they strike a healthy balance between hospitality and community.”

About Avenu Insights & Analytics

Over 2,600 state and local governments have partnered with Avenu to drive positive results for their communities through software administration and revenue enhancement solutions. Avenu’s comprehensive software solutions digitally transform government by modernizing processes, providing online access to records, and reducing costs. Avenu also provides a robust ecosystem of revenue management services that identify and recover untapped revenue. State and local governments work closely with Avenu to increase revenue without raising taxes, streamline internal operations, and improve services by enhancing connectivity for constituents. Avenu is a portfolio company of Mill Point Capital.

About Mill Point Capital
Mill Point Capital is a middle-market private equity firm focused on control-oriented investments in the business services and industrial sectors. The firm works with executive partners to leverage its investment professionals’ experience, while providing strategic and operational guidance designed to drive long-term value creation in its portfolio companies. Mill Point is based in New York.

Originally published on PRWeb.