Tarrant County hoteliers welcome competition and have worked together for years for the betterment of the hotel industry and local economy. Local hotel operators make up over 100 different brands of lodging options, including: small single-room bed and breakfasts, midsized limited and select service hotels, and even the largest full service, resort, and convention center hotel properties. These hotel properties are owned by countless different entities and individuals who compete fairly and openly with each other to provide the best guest experience and value.
With the rise of what once was the “sharing economy,” the hotel sector has seen a large growth of Short Term Rentals. While we welcome the entry of STRs into the lodging arena, it is only fair that these lodging options abide by the same reasonable rules and regulations that similarly sized lodging operators do. For example, other hotel properties (including the smallest B&Bs) generally must comply with all applicable state and local lodging requirements, such as:
- Obtaining necessary permits
- Remitting state and local hotel taxes for each overnight stay
- Complying with lease provisions, zoning and deed restrictions applicable to this type of activity
- Adherence to health and safety standards applicable to hosting tourists in a home for that type of structure
- Meeting any applicable ADA standards
- Retaining commercial liability insurance to protect guests in case any negligence or defect on the part of the operator or property creates an injury and claim by the guest.
However, what has happened is that the emerging STR market has transitioned from the “sharing economy” to the “investor economy.” We first witnessed the arrival of STRs with STR websites allowing individual property owners to rent a portion or all their homestead on a short-term basis to out-of-town guests. In some cases, it included individual owners renting out their vacation home on a short-term basis to tourists visiting that area. However, the STR business is now a multibillion-dollar industry, with several major corporations such as Homeaway, Airbnb, FlipKey, VRBO, and third-party sites like TripAdvisor and Expedia saturating the market with STR offerings. The nature of who the participants are has also evolved from a single host offering up part or all of his/her home as a short-term overnight option to the rapid growth of non-owner occupied, multiple unit and full-time operators of STRs. The transition has come full circle, and STR activity locally has shifted from a “sharing economy” to the “investor economy.”
Our priority is simple, ensure the same basic standards are met within Tarrant County regarding short term rentals that hotels are required to abide.
Additional questions should be referred to:
Hotel Association of Tarrant County