The cost of short-term rentals in Big Sky
Big Sky, a once-small Montana mountain town on the cusp of development, has matured into a top vacation destination for visitors from across the globe. With the swelling influx of tourists that come each summer and winter, the demand for lodging has grown exponentially.
Homeowners in the community have begun to capitalize on the expanding need, flipping their sought-after ski-town properties into short-term rentals (STRs). The Big Sky Resort Area District recognizes approximately 700 short-term rental properties, 200 of which are managed by individuals and the remainder by property management companies. While this business opportunity fills one gaping hole of lodging in the community, it may be burning another.
The spike in STRs has exacerbated Big Sky’s notorious housing crisis.
“The vast increase of people getting into the short-term market has made a big impact on people who need long-term rentals here,” said Laura Seyfang, program director for the Big Sky Community Housing Trust. “So many people have all of a sudden found that their owner has put their unit into the short-term rental market and all of a sudden they’re stuck with trying to find a place to live.”
Read the full article from Explore Big Sky here.