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Posted on: April 26, 2018

City Announces $33,000 Contribution to Housing Trust Fund from Short-Term Rental Registrations

NEWS ALERT

The City of Portland is pleased to announce that it will be contributing almost $33,000 to the Housing Trust Fund from short-term rental registration fees. The Housing Trust Fund is used to fund affordable housing projects throughout the city. This is the first year that the short-term rental registration ordinance is in effect. So far, the City has collected $117,981 and is projecting a total collection of roughly $125,000. After covering staff and enforcement expenses, the roughly $33,000 remainder will go to the Housing Trust Fund.  


The City Council approved an ordinance on April 26, 2017 that requires short-term rental units to be registered with the City. The ordinance went into effect on January 1, 2018. So far the City has registered 295 owner-occupied properties, 13 tenant-occupied properties, 105 non-owner occupied properties and 80 properties on the islands. 


Councilor Jill Duson, Chair of the Housing Committee, explained how pleased she was that not only is this ordinance ensuring a safe place for renters to stay, but it will help create more affordable housing opportunities across the city. 


She said, “Our initial goal of addressing the operations of short-term rentals in Portland was to allow us to monitor and address quality of life issues while also ensuring renters were in safe places. But my colleagues and I understood that short-term rentals also have an impact on our housing market, and so I’m pleased that this ordinance goes further by providing a benefit to the creation of new affordable housing opportunities.” 


Duson added, “I’d also like to thank city staff for their role in implementing and overseeing the registration process. In July, a program evaluation and financial report will be on the Housing Committee’s agenda.” 


If you operate a short-term rental and need to register or calculate short-term rental registration fees, visit: www.portlandmaine.gov/STR. There are penalties that may be assessed for operating an unregistered rental unit. 


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