The Billings Code task force is putting forth a code regulations that would restrict Airbnb or any STR (short term rental) to specific districts set by the city code enforcement. As of this writing, no districts have been set and code enforcement has yet to assign a committee to address this issue. They are however moving forward to prohibit any STR that the property owner does not live in. If a resident owns a house or apartment that they do not live in they will be forbidden to host STR and may only engage in a long term rental model. This will affect many property owners who have mixed use properties and disallow anyone who wishes to lease or manage a property that STR some or all of the property.
The goal is one house one rental, and only in the yet unnamed districts that the zoning board and code enforcement will define. This code will immediately cut out 75% of the STR market dominated primarily by Airbnb and VRBO. Placing a blow to the economy to the tune of 3.2 million dollars annually.
This is getting crammed down our throats in the next two to four weeks with very little public information of knowledge.
I’m looking for anyone with experience in this area who can give some guidance.
