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Montrose staff to study limits on large-scale rental ownership as council expresses concern
Summary
Planning staff will research whether to limit the number of rental properties a single owner or entity may hold after council members raised concerns that corporate buyers converting homes to rentals reduce naturally affordable ownership options.
City planning staff told the council on Sept. 8 that they are researching options to limit how many rental properties a single owner or entity can hold within Montrose.
The presentation noted a trend where houses put on the market are being purchased by companies and converted to rentals, which councilmembers said can lead to less upkeep and diminished local homeownership opportunities. Staff said they will gather data on the number of rental properties, consider geographic approaches (citywide or by subarea/district) and return with recommendations in October.
Councilmembers expressed support for further study and agreed the personnel or planning committees should review options before drafting ordinance language or a formal policy.
No formal action was taken; staff will report back with research findings and proposed approaches.
