Quote:
Originally Posted by Descant
Disagree. I bought a motel to condo conversion in 1980 specifically for STR. Many of the other buyers at the time did the same. Yes, the owners wanted to retire and move, and, as with many other Weirs motels, to continue running it as a "modern" motel would have cost a lot more than they, or a business buyer, could make back in a few years. Some of my first tenants were people who had rented from the motel in the past. They looked around and decided that motels weren't going to be around for long and bought conversions as well. Used it for a few weeks and rent the rest of the time. The catch was, Gunstock had no snowmaking then and also that year, no natural snow. Nobody wanted to rent winter short term. In a couple of years, the price doubled, so I sold it. Prices have continued to climb and I believe many of those units are STR because people have mortgages and much higher taxes.
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I don't doubt your situation, however, it has been talked about on here at length about how the motels of the weirs going condo negatively impacted area businesses because of the lower utilization rates of condo owners vs motel renters. Now that Short term rentals are being discussed in a negative way, you are suggesting and twisting it in way that people sold their motels as condos so people could rerent them on VRBO. And that somehow the VRBO rental in a former motel is somehow worse since gunstock now makes snow. That is downright comical and just shows the internet never fails that someone can twist anything to serve their opinion.