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San Diego Short Term Vacation Rental Update

Opponents and supporters of vacation rentals voice their concerns at a San Diego City Council meeting. / Photo by Adriana Heldiz

The San Diego City Council Moving Closer to Regulating Short Term Vacation Rentals

The San Diego City Council has approved fees to be charged to those seeking a license to operate short-term vacation rentals.

Licenses for homes rented more than 20 days will cost $1,000 a year. Licenses for rentals where the owner lives onsite will cost $225. Licenses for homes rented fewer than 20 days per year will cost $100.  Licenses for rentals where the owner lives onsite will cost $225.  Revenues from the fees will go toward staffing, software, and enforcement.

A lottery system is being crafted by city staff that will distribute the licenses that fall under the cap system. The city will limit licenses to about 1% of the city’s total housing stock. (Excluding Mission Beach, which will have it’s own cap at 30% of the neighborhood housing stock)

San Diego City staff estimated there would be 1,081 licenses available in Mission Beach and 5,416 licenses in the rest of the city.

Whether the City Council’s decision to agree to the regulations, on the condition that good hosts be given priority in obtaining licenses, is needing approval by the California Coastal Commission

If the CCC approves the lottery system presented then homeowners looking the operate a vacation rental for more than 20 days will be able to apply for a license between March 1, 2022-April 15, 2022.  The new regulations are expected to be enforced starting July 2022.  However many residents have requested that the enforcements begin after San Diego’s tourism season.

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San Diego Quarterly Economic Report Oct. 2021

Third Quarter Report: Home Prices Soften, But Not Much

The Greater San Diego Association of REALTORS® is fortunate to have our partnership with Alan Nevin, a renowned economist, to provide our members with insights and an expert outlook for our industry.

Real estate continues to be one of the best wealth-building opportunities for the average American, and the statistics bear that out. That has to be one of the highest motivators for the business of REALTORS® and the goals of their potential clients. Alan Nevin’s insights into the economy and housing market are an invaluable tool to help us all gain perspective.

http://media.sdar.com/media/Economic_Report_October_21_Quarterly.pdf