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The Reality & Statistics of ShortTerm Rentals • The STR industry is largely individual homeowners. A good portion operate under small business entities for tax purposes and liability protection. • Many STR owners used their property flexibly for more than short-term stays of 30 days or less. Nearly 40% also rented for mid-term stays of 30-days to five months to host non -leisure guests like traveling nurses, hospital patients, and remote workers. • On average, STR owners relied on their STR activity for 38.1% of their income. STR owners those who own and manage multiple STRs, that reliance was even higher at an average of 56% of their income. • STR activity creates a domino effect of economic generation and jobs throughout communities. Of STR homeowners, more than 57% hired up to three contractors or service providers to service their property, and 69% spent up to $15,000 on those providers while 24% spent between $15,000 and $50,000. • The majority of STR property managers surveyed employed up to 10 full- time or part-time employees in the last 12 months and paid up to $250,000 in wages. Additionally, 61.7% of property managers hired one to 10 contractors or service providers and the majority spent up to $100,000 on these providers in the last 12 months. 0 In the past 12 months, approximately 99% reported receiving zero complaints from neighbors or members of their community about their STRs. Additionally, 99% of those with good neighbor practices in place reported positive relationships with all or most of their STRs' neighbors. • Research found that short-term rentals are not the biggest contributor to high rents, especially when it comes to the most vulnerable segments of a city's residents. cities that have restricting STRs found it was not an effective tool for solving the housing -affordability issues. Prepare by SASTRA for the City of Santa Ana