Local group tries to expand inventory of long-term rentals in South Lake Tahoe
SOUTH LAKE TAHOE, Calif. — A local group trying to expand the inventory of homes available for long-term rental in the Lake Tahoe Basin has expanded to the South Shore.
Landing Locals, which has been operating in North Lake Tahoe and Truckee for the past year, was started when founders noticed many vacant homes weren’t being used to house the rising number of people looking for rentals.
When CEO Colin Frolich and CIO Kai Frolich moved to Truckee in 2018, they struggled to find a place to rent. They eventually found a place through the Tahoe-Truckee People Facebook page but they knew that in larger metro areas, there were resources available to help people find housing that was lacking in Tahoe.
They, along with president Evan Goldin, started Landing Locals in March 2019 and have since housed more than 100 residents.
According to Goldin, there are many houses in Tahoe and Truckee that sit empty. Landing Locals reaches out to homeowners to try to convince them to use those homes for long-term rentals.
Landing Locals advertises those homes on their website for a small fee and helps renters find those homes for no fee.
While most of the people they’ve already helped rented previously vacant homes, another segment of the population they are going after is short-term rentals.
“Short-term rental income is variable while long-term rentals are more stable,” Goldin said.
Goldin thinks that because of the impact COVID-19 has had on the tourism industry, vacation home rental owners may be looking to switch to long term rentals for a more stable income.
“There is an intrinsic instability in renting their homes on a short-term basis,” Goldin said.
Landing Locals had always wanted to expand their geographic region to include South Lake Tahoe and because of COVID-19, they decided to push up their timeline.
The South Shore has an incredible need for housing.
According to the Tahoe Prosperity Center’s South Shore Region Housing Needs Report, 4,420 vacant and second homes have been added to the region since 2010. They believe 3,290 units need to be made available by 2026, and 2,025 of those should be rental properties.
“It’s impossible to build enough to solve the problem,” Goldin said.
In North Lake Tahoe and Truckee, local governments and utility districts have helped Landing Locals identify homes that could be used for long-term rentals.
Another way local governments can help, Goldin said, is by making it easier for homeowners to rent their homes which can help “unlock existing inventory.”
Finally, Landing Locals is working with local governments to possibly provide incentives for homeowners to rent.
Goldin is hoping the city of South Lake Tahoe and El Dorado County will help in a similar way.
They currently don’t have any homes available in South Lake Tahoe but renters can make a profile on the website so that they will be notified when properties become available.
To learn more, visit https://landinglocals.com.
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