Short-Term Vacation Rentals: What State Governments Need to Know
The short-term rental industry, best represented by the types of rentals found on Airbnb, VRBO, and Flipkey, has grown from a cottage industry to a multi-billion-dollar market. For many states and provinces, this has allowed more tourism in non-touristy areas and ultimately has helped boost their economies.
Unfortunately, there are downsides to the explosion of home-sharing. Many departments of revenue struggle to identify and ensure they’re collecting taxes from the thousands of short-term rentals in their states.
With US states facing a projected $555 billion in budgetary shortfall due to COVID-19 through FY2020-2022 (CBPP, 2020), every tax dollar that should be collected, needs to be collected in a cost-effective way to help offset these shortfalls and add back to key services.
In this session, you’ll learn:
- Key proprietary data that will help you understand the STR market in your state today
- The difficulties of tracking short-term vacation rental activity, and why they’re not like hotels
- How tax collection is affected, and where your department could be missing out
- Tools to ensure effective tax collection from this booming industry
Date / Time: Available on-Demand
Duration: 1 hour
Featured Speaker:
John joined co-founded STR Helper in 2015, which was then acquired by Host Compliance (now a part of Granicus). Even before joining Granicus’ Host Compliance, John had already become an expert in short term rental compliance by successfully founding and running his own short term rental compliance company.
More importantly, he has been dealing first hand with the challenges of short term rental compliance while being the Mayor of Garden City from 2010-2018 and serving on numerous boards including the Bear River Association of Governments. He now helps states and local governments with their short-term rental challenges as a Senior Account Executive at Granicus.
