During its Dec. 21 meeting, Lakeway City Council unanimously approved capping the number of allowable short term rentals at the current level of 43 permits.
A special use permit will now be required of all Lakeway STRs, making the process easier for an STR permit to be revoked if violated, Deputy City Manager Chessie Zimmerman said.
Other major provisions of the revised law include:
- Rentals must be for a minimum two nights
- Maximum of two adults per bedroom
- Initial special use permit granted for one year and renewable for two years
- Truthful ads required of owner regarding number of occupancy permitted in the home
- Condominiums—such as the World of Tennis development—are included in the ordinance
- Current license holders are grandfathered as far as the remainder of their three-year permit but must comply with new regulations; grandfathered permits renewable as a two-year special use permit once three-year permit expires
Although members discussed adding a 90- or 120-day cap on the number of rental nights allowed per year, the requirement was ultimately struck from the final ordinance.
