Leave rental regulation local
Love ’em or hate ’em, short-term rentals are here to stay. Who stands to profit most from them is a whole different question.
State House Bill 4722 and state Senate Bill 446, two bills that aim to strip local communities of their autonomy to regulate short-term rentals, are making the rounds down in Lansing. These bills will provide few opportunities for residents to invest in short-term rentals. Those reaping the greatest benefits will be rental companies and absentee investors, who will continue to buy properties in the area, displacing year-round renters and driving up real estate prices on prospective first-time homeowners.
Moreover, deregulation of the short-term rental industry will disrupt our communities. Neighborhoods will give way to tourists in the summer and become ghost towns in the winter.
The Michigan state legislature should respect the freedom of each community to decide if and how these properties will best serve their residents. I urge you to contact your state representatives and voice your opposition to HB 4722 and SB 446.