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ATTACHMENT E January 21, 2021 The Honorable Dan Roe Mayor City of Roseville, Minnesota SENT VIA ELECTRONIC MAIL Short Term Rental Restrictions The Saint Paul Area Association of REALTORS® (SPAAR) represents more than 7,500 real estate professionals in the Saint Paul Area, including the City of Roseville. SPAAR is committed to representing its membership by working to protect their property rights. Among the core rights that a property owner has is the right to lease or rent the property. Owners of a single-family residence can do one of three economically productive things with the residence: (1) live in it; (2) rent it; or (3) sell it. Short term rentals provide significant economic advantages to the City of Roseville. When large community events are scheduled in the Twin Cities, (ex. Super Bowl, NCAA March Madness), and hotels are booked solid, Roseville is in prime position to take advantage by offering tourists a place to stay with short-term rentals. This leads to economic stimulus for the city. When visitors come to stay in these short-term rentals, they end up spending their money at the local gas station, grocery store, restaurant, bar and liquor stores. These economic advantages would be significantly impacted if a ban or restrictions on length of stay are implemented in the city. The short-term rental market in the city of Roseville permits citizens of Roseville to realize a stream of income---especially important during recession or economic downturns. Allowing families the opportunity to rent their homes in the short term may be vital for many residents’ economic well-being. National mortgage lenders are evaluating whether to include projected income from short-term rentals as part of income for mortgage approvals. (This provides options to groups burdened with student loan debt or individuals who earn mid-range salaries.) As this is adopted, it will impact ability of prospective homebuyers to purchase in desirable communities, like Roseville, where home prices are increasing rapidly. Restrictions on short-term rentals in your community will impact who is able to purchase a home. If the City of Roseville does decide to regulate short-term rentals, SPAAR requests you consider the economic impacts on current and prospective homeowners in the city. An outright ban on short-term rentals under 7 days may impact financially burdened homeowners or impact decisions on homeownership. Seasonal rules would complicate enforcement. We urge you to consider a simple and clear ordinance. Revising licensing and enforcement mechanisms would transfer the burden to homeowners who are benefiting from short-term rentals.