In short-term rentals’ rise, resort sees long-term pain
LAKE PLACID, N.Y. — Lake Placid is a picturebook village in the Adirondack Mountains offering tourists crisp air, pretty peaks, Winter Olympic sites and, lately, a lot more houses to rent for the weekend.
The rising popularity of short-term rentals on services like Airbnb is alarming residents who fear they’re gobbling up so much of the housing market that workers who want to live there are getting frozen out.
“What about the families? They’re not here anymore,” said longtime resident Zay Curtis. “The neighborhoods are slipping away.”
Short-term rentals like those listed on Airbnb are surging all over, but they loom larger in smaller resort areas like this village of 2,400.
Since December 2017, the number of Airbnb and HomeAway listings in and around Lake Placid has grown from 555 entire places to 684, according to AirDNA, a short-term rental data provider. As conversions continue, officials are struggling with a contentious question that also echoes in many Atlantic beach towns and on the shores of Lake Tahoe: How do resorts balance neighborhood concerns against the economic benefit of tourists who stay in shortterm rentals?
“It fuels the economy here. I’m telling you, if they were to stop vacation rentals, this would be a ghost town,” said Sharon Middendorf, a rental owner and part-time resident.
Seasonal rentals are nothing new in Lake Placid, famous for the 1980 U.S. Olympic hockey team’s medal-winning “Miracle on Ice.” Homeowners and landlords have long rented out spare rooms and the area around the village is dotted with condominium developments that cater to vacationers.
It’s the growth of home rentals in residential neighborhoods that’s raising alarms.
About a third of the housing units in the larger Town of North Elba are generally for vacation or temporary seasonal use, up from about a fifth in 2010, according to a new report commissioned by the village and the town. And half of the village and town’s homeowners live elsewhere.
The rapid rise of rentals has fueled the sort of complaints heard in Los Angeles or London: noisy parties, trash, overpacked homes. But some residents say they’re also taking homes off the market that local workers could buy or lease.
While Lake Placid bustles with tourists, its population is dropping, as is school enrollment.
Huda Scheidelman, chairwoman of a group of area rental owners, said affordable housing is a nationwide issue and it is unfair to blame short-term rentals for the local crunch. Operators point out that many rental listings include large, lakeside homes that are out of reach for buyers of modest means.
Lake Placid Mayor Craig Randall said local leaders were expected to soon propose a permitting system for short-term rentals that could include a 90-day annual limit for homes not occupied by the owner.
“I think this will begin to calm it down a little bit,” he said.