Buena Vista’s moratorium on short term rental license applications has expired, allowing applicants to submit for licenses or renewals since Monday, Nov. 8.
“It was quite an interesting thing to walk up to town hall yesterday with a welcoming committee,” said town clerk Paula Barnett at the Nov. 9 board of trustees meeting.
Barnett reported 15 applications for new licenses and 34 for renewals on Monday alone. Of the applicants for new licenses, 10 resided out-of-county, two applied for in-county primary residences and three for in-county non-primary residences.
The newly established ordinances limit licenses for out-of-county residents to 6 percent of local housing stock and 3 percent for in-county residents renting non-primary residences. Licenses for primary residences are not limited.
While the moratorium was in effect and the new ordinance being drafted, out-of-county residents held licenses for 101 properties. This number put OOC STRs at 5.5 percent of total housing stock, which would allow for nine more licenses before reaching the limit.
For in-county residents renting non-primary residences, 12 licenses were active, allowing up to 43 more licenses to be issued before reaching the 3 percent limit.
Applications for new licenses will not be processed until renewal applications are finished being processed.
This is to maintain up-to-date figures with respect to active licenses and the percent of total housing stock under license.
As of Monday, Nov. 16, over 80 renewal applications were pending review, said town clerk Lillian Simpson.
As applicants race to acquire licenses for over 10 percent of BV’s housing stock, an additional provision allows any project currently under construction to be licensed regardless of limits, as long as the owner receives a certificate of occupancy by Aug. 31, 2022.