Short Term Rentals (language only)

Item 111 #1s

Language

Page 99, after line 39, insert:

"The appropriation of any funds set forth in this item for the remainder of Fiscal Year 2017 and the Fiscal Year 2018, as enacted by Chapter 780 of the 2016 Acts of Assembly, are conditioned upon the Department of Housing and Community Development establishing and operating a mandatory registration system for any person offering property for short-term rental in the Commonwealth. The Department shall assess an annual $100 fee for each property offered for short-term rental. The Department shall retain the revenues generated by the fee to cover the costs associated with establishing and maintaining the registry, and to cover any costs associated with the inspection of short-term rental properties as deemed necessary by the Department to maintain public safety. As a prerequisite for registration, a person shall provide the Department with proof of registration with (i) the locality in which the property is located and (ii) the Department of Taxation for the collection and remittance of all applicable state and local taxes associated with the short-term rental. The registration list maintained by the Department shall be open to public inspection and copying pursuant to the Virginia Freedom of Information Act (§ 2.2-3700 et seq.).

If a locality determines that property that has not been registered with the Department is offered for short-term rental, the person offering the short-term rental shall be assessed a $500 penalty. If the locality determines that property not registered was in fact rented on a short-term basis, the person who offered the property for short-term rental shall be assessed a $500 penalty for each day that the property is in fact rented. The penalties generated by this item shall be collected and retained by the locality in which the residential dwelling is located.

Registration shall not be required pursuant to this Item for persons or entities already licensed by the Commonwealth or the locality in which the property is located related to the rental or management of property, including but not limited to licensed real estate professionals, hotels, and bed and breakfast establishments.

For purposes of this Item, "short-term rental" means the provision of a room or space that is suitable or intended for occupancy for dwelling, sleeping, or lodging purposes, for a period of fewer than 30 consecutive days, in exchange for a charge for occupancy."