Reality check:
There is quite a bit of that old, “I’d love to hold your coat while you go fight,” routine showing up in this thread.
Who wants to spend their retirement fighting a losing battle?
Legislation? HAH! Does anybody actually think enough legislators would look out for the little guy? Of course there are some in legislative positions (at all levels) who are not— and never will be — for sale. But the rest? Many are rented and far too many are owned.
Those who make their full-time home in TV and have been here for years could be beginning to see turnover on their streets as longtime neighbors decide it’s time to go back home or death catches up. Therefore, even the most well established neighborhoods in TV are not immune to the potential for STRs. This could include even the more expensive homes, with all that extra room and pools, too. Could an investor see those homes as all the better to get high rents from big groups of temporary “neighbors”?
And the new neighborhoods? It is the luck of the draw as to whether the new neighborhoods ever get the chance to become real neighborhoods, as brand new homes are bought up by investors who have no intention of settling in and being a part of a community.
TV is one of a kind. That is part of its draw but at the same time, it is a lot like an experiment that has not come to its conclusion yet — and probably will not — any time soon.
Buyers who want to make a home here should add this STR issue to the list of pros and cons that every homebuyer, everywhere, should always make. (But many don’t.)
We bought pre-owned in 2013.
But we did not buy with stars in our eyes.
I have always seen owning in TV as like owning a dividend-paying stock in a corporation…..
The dividend on TV stock has always been “The Lifestyle” — that has been touted as the major selling point since the beginning of TV……..
Like owning any dividend-paying stock, the stockholder must be aware that the dividend can be cut to paying less or cut out all together.
When a stock dividend is cut or looks like it is going to be, the stockholder then decides whether it’s time to hold or sell.
As far as a solution to the issue of STRs goes, I think that ship has sailed. That horse has bolted from the barn.
Those who are upset by this issue can only choose what works for them as individuals. It’s that, “Hold or Fold” thing. Owners might not like either choice, but, to me, it looks like those two choices are realistically it.
But, of course, there will be some who want to go into battle, but there are more who just want others to go into battle so they can sit back and watch.
Save yourself — whatever that means to you and your enjoyment of your personal life in TV or elsewhere. But be clear that the developer just wants to make as much money as possible and the most money to be made is in selling more and more houses. Your wishes do not count. And guess who is holding all the cards.
Boomer