Siegel proposes cap for multifamily STRs

On Thursday, City Council will consider changes to the city’s short-term rental ordinance, which regulates the temporary rental of homes in the city. The changes, which have already been through the Planning Commission, aim to bring STRs into compliance by making the licensing process easier and enforcement of nonlicensed properties effective. Council Member Mike Siegel posted on the City Council Message Board that he will be bringing forward an amendment that would “cap the percentage of units that can be used for short-term rentals at multifamily residential properties at one STR, or 3% of total units, whichever is greater.” A cap of 25 percent for larger properties with four or more units had previously been considered. “The rationale for this amendment is to prevent displacement of renters at multifamily properties. In particular, my concern, shared by advocates for Austin tenants, is that proliferation of STRs at multifamily properties will lead to rising rents and increased economic pressure on working Austinites,” Siegel wrote. “This amendment is consistent with the proposed findings of fact in support of the STR ordinance … including proposed finding of fact #5: ‘when housing units are utilized solely as STRs, those housing units are no longer available as long-term housing for residents, which can impact housing affordability, neighborhood dynamics, and the quiet enjoyment of one’s home.'”