Why all this discussion about rentals in our neighborhood?
Our neighborhood was changed and molded by white flight, redlining, and crime. The 1970s were particularly turbulent. A strong coalition of residents, largely single-family homeowners, and institutions worked to bring stability and security to the neighborhood. Gradually their efforts bore fruit. Flight reversed itself and property values rose.
Today there are new threats to our diversity and stability that over the long term could affect us. One is the growth of short-term rentals which have proliferated our neighborhood, little hotels in our midst. The other is the growing number of single-family homes used as rental property, often for college students. Both of these threats limit the presence of homeowners who surely are key to involvement and stability.
A recent study by online news source Curbed entitled “Airbnb vs. the City: How Short-Term Rentals are Changing Urban Neighborhoods,” states, “… thanks to companies like Airbnb, communities are losing their most important asset: neighbors.” In addition to reducing the number of homeowners who live on site, vote in elections, send their children to neighborhood schools, and bring a sense of community to the neighborhood, renting of single-family homes take these homes out of the market and creates housing shortages. Some of the blocks in our neighborhood have over 25% of the properties owned by investors.
Our neighborhood has 686 single family homes*
There are 101 single family homes that are not owner Occupied* …….15%
There are 34 single family units that are owned by corps or entities* …….4%
There are seven single family entire homes listed as short-term rentals …….1%
* (This information is taken from the city’s assessment records from 2018 with additional research on short term rental listings.)
There will always be renters here and there will always be students. Skinker DeBaliviere cherishes our diversity. Our goal is to abide by city zoning regulations, no more than 3 unrelated individuals per dwelling, and the healthy presence of owner-occupied single-family homes to maintain the strong sense of community that we share today.
