Steven Zeitler 5326 E. Lake Road, Varick NY 14541- shzeitler@gmail.com -June 21, 2023

Town of Varick Town Council 4782 Rt. 96 Romulus, NY 14541

Subject: Petition to Address Negative Impact on Home Values Due to Short-Term Rental (STR) Limits and Non-Transferable STR Permits

Dear Town of Varick Town Council,

We, the undersigned residents, and homeowners of Varick, come together to submit this petition to express our collective concerns regarding the negative impact on home values caused by the current limits on Short-Term Rentals (STRs) and the non-transferability of currently held permits imposed by the town ordinance. We urge the Town of Varick to take immediate action to address this issue and ensure that every homeowner's property value is safeguarded.

Our petition highlights the following key points:

1. Negative Effect on Home Values: The current limits on STRs imposed by the town ordinance have resulted in a negative effect on home values for all homeowners in Varick. Prospective buyers, who may have considered purchasing homes in our community, are discouraged by the restricted potential for income generation through STRs. This diminished demand for properties with limited STR opportunities leads to a decline in property values across the board, impacting all homeowners in Varick.
2. Lack of Flexibility for Homeowners: The limitations on STRs not only affect homeowners who currently engage in STR activities but also have a detrimental impact on those who do not currently utilize STRs. Every homeowner should have the right and flexibility to explore STR options to offset costs, generate additional income, or adapt to changing circumstances. The restrictions imposed by the town ordinance limit these opportunities and hinder homeowners from maximizing the value of their properties.
3. Non-Transferable STR Permits: The current non-transferability of STR permits upon the sale of a property places an unfair burden on current STR permit holders. These homeowners have invested time, effort, and resources in obtaining and maintaining their STR permits, with the expectation that they would have the option to transfer these permits when selling their homes. The lack of transferability diminishes the value of their investments and limits their ability to fully realize the benefits of their STR operations.
4. Economic Impact: STRs have the potential to contribute significantly to the local economy, attracting visitors, promoting tourism, and supporting local businesses. By embracing the benefits of STRs and allowing homeowners the freedom to engage in this activity within reasonable regulations, Varick can experience economic growth and prosperity. The negative impact on home values resulting from the current limits on STRs and non-transferable permits also hampers the economic well-being of our community.
5. Economic Burdens: The restrictions on STRs place economic burdens on homeowners, making it difficult for some to keep their homes. Homeowners may rely on STR income to cover mortgage payments, property taxes, and maintenance costs. Limiting their ability to engage in STR activities puts financial strain on homeowners and threatens their ability to maintain their homes.
6. Preservation of Family Legacies: Many homeowners in Varick have deep family roots and view their properties as legacies passed down through generations. The current STR restrictions make it challenging for families to maintain and preserve their cherished properties, as the potential income from STRs can contribute to the upkeep and preservation of these family legacies.
7. Historical Existence of STRs: Short-Term Rentals have existed in Varick for at least 50 years, contributing to the local economy and the vibrancy of our community. The current restrictions disregard the longstanding tradition of STRs and ignore their positive historical impact.
8. Conflict with NYS Tourism Plan: The restrictions on STRs in Varick conflict with New York State Tourism's plan to increase tourism and promote economic growth in the region. By limiting STR opportunities, Varick is missing out on the potential benefits that align with the broader state-level initiatives.

We, the undersigned, call upon the Town of Varick to take immediate action to address the negative impact on home values caused by the current limits on STRs and the non-transferability of STR permits. We urge you to reconsider and modify the existing ordinance to provide homeowners with greater flexibility and opportunities to enhance their property values. By doing so, the Town of Varick can promote a thriving housing market, economic growth, and the overall prosperity of our community.

Thank you for your attention to this matter, and we trust that you will carefully consider our petition and take the necessary steps to rectify the negative impact on home values caused by the limits on STRs and the non-transferability of STR permits.

Respectfully,

Town Resident's signatories