Welcome to today’s roundup of real estate news! In Oklahoma City, the council has made a significant decision by placing a 180-day moratorium on new short-term rentals, such as Airbnb and Vrbos, in certain areas. This move is closely connected to the consideration of allowing accessory dwelling units (ADUs) on properties, which could address the need for higher-density housing. However, opinions are divided, with opponents concerned about saturation in the short-term rental market, while advocates highlight the benefits of ADUs in providing affordable housing options and enhancing walkable communities. In other news, an opinion from the Oklahoma Attorney General has opened the door for cities to allocate funds to eviction prevention programs, aiming to reduce the number of people facing eviction. Lastly, homebuilders in Kansas City are expressing dissatisfaction with new environmental requirements, calling for more flexibility to address the tight housing market and create affordable housing options. Read on to explore these stories further!
Oklahoma City Council Pauses New Short Term Rentals, Considers Future of Housing Market
In a meeting on Tuesday, the Oklahoma City Council voted to approve an emergency moratorium lasting for 180 days and prohibiting the approval of new applications for home-sharing, such as Airbnb’s or Vrbos, for areas in the city where 10% of the block already contains a home-sharing rental. Current short-term rental owners would not be affected.
The decision is also closely tied to an ordinance under consideration to allow accessory dwelling units on properties, which advocates say could provide needed higher-density housing. Certain ADUs in Oklahoma City have been ‘grandfathered’ in because they were built before currently regulations existed.
Opponents against the idea believe the smaller housing units would become part of an already saturated short-term rental market. “I help with an elderly aunt that I have,” said Glen Cosper, a member of the Oklahoma City Metro Association of Realtors. “So, I know that people would like to have that because that person still likes to live independently.”
In presentations from city staff, benefits for ADUs have been cited as providing affordable housing options and better connectivity to walkable communities. Marva Ellard, a representative for the preservation group overseeing the Heritage Hills historic neighborhood, spoke publicly against ADUs at a May planning commission meeting. “We’re seeing a lot of it in The Paseo, especially where investors buy these cute little bungalows,” she said. “We understand the need for more housing in the inner city. But, we also want an ordinance that treats us fairly.”
Cosper said the pause on certain new short-term rental applications creates an opportunity to think of a solution that benefits a wider audience. No final and permanent decisions have been made.
Experts disagree on cause of Oklahoma’s rising rents | KGOU
Housing shortages and rising rents go hand-in-hand with supply-demand economics. When supply is low and demand is high, one can reasonably assume costs will rise. Rising rents in Oklahoma have led to a surge in evictions. Local and national experts discussed the reasons for Oklahoma’s dramatic rent hikes in recent years and the growing number of evictions the state is experiencing. Some experts said high rents are a natural result of Oklahoma’s housing deficit. Inflation is a factor generally assumed.
AG Opinion Opens Funding for Eviction Prevention – Oklahoma Watch
Oklahoma cities might be one step closer to reducing the number of people evicted in the state after Oklahoma Attorney General Gentner Drummond issued an opinion regarding constitutional uses of taxpayer money. Allocating municipal money to a nonprofit to fund eviction prevention services is now considered constitutional in Oklahoma, according to the opinion. This paves the way for cities to invest in programs aimed at providing legal representation and assistance to tenants facing eviction proceedings. The pilot program conducted by Legal Aid Services of Oklahoma showed positive financial impact and significant savings for Oklahoma County and Tulsa County. With the potential for city funding and upcoming grant opportunities, guaranteed legal assistance for tenants in eviction court could become attainable and sustainable.
KC homebuilders complain of new environmental requirements – Oklahoma Energy Today
Homebuilders in Kansas City are expressing their dissatisfaction with new environmental requirements implemented by the Kansas City Council. These rules, which include specific window installations, insulation thickness, and more efficient heating and air conditioning systems, have been criticized by homebuilders who argue for more flexibility. Despite opposition from environmentalists, builders are calling for changes to the regulations to address the tight housing market and create more affordable housing options.