LITTLE ROCK, Ark. — New regulations for short-term rentals are on the way after the Little Rock board of directors voted yes on a new ordinance on Tuesday night.
Going forward only 500 Airbnbs and Vrbos will be allowed in the city. Owners will also be required to pay a $500 annual fee for an inspection.
They could also lose their business license if there are three police complaints reported against their rental within a year.
“I usually stay at short-term rentals when I travel but I think there needs to be some regulation and I think this is a good starting point,” said Capi Peck at Tuesday’s board meeting.
Short-term rental owners like Mia Foreman also agreed that regulations are a good thing but not the ones that were voted on.
“The $500 for an annual inspection is excessive. That is not an equitable approach to small business owners like me,” said Foreman.
She explained that she was worried that this will hurt her business which she started to provide for her family.
“So we can have the income and supplement what I wasn't bringing home and be able to be present in providing the life care for my mother, which was the utmost importance at that time,” she described.
Other owners like Paul Dodds have already been taking action to make sure they can keep their short-term rentals up and running.
“If there's only 500 of them, I want to make sure that I can get in on it,” said Dodds.
He worries that these regulations could hurt the business entirely.
“After going through all this hassle to get a license, you can lose it in a heartbeat because someone complains,” he added. “A lot of people are going to go into business and a lot of people are going to lose their livelihoods.”
Members of the city board did say that even though they passed the ordinance, they'd be open to revisiting it and making amendments if needed.