Negative externality generating summer rental
The Cape Cod Times (which I used to deliver) reports that: Party houses strain neighborly relations (July 25, 2003). The Times tells the story of a quiet year-round neighborhood in Hyannis with a house rented by college students as a temporary residence while they pursue their summer jobs. The house generates noise and garbage which the neighbors find offensive.
Although there are small numbers of persons involved, and they know each other - and the scenario is repeated each year over several years - a negotiated solution doesn't seem to evolve.
7-26-03: For a negotiated solution to emerge, property rights must be clearly defined. In this case they may not be. While the law requires the students to keep quiet, there doesn't seem to be any way for the home owners to sell their interest in that quiet. So the college students cannot cmpensate the homeowners. Moreover, the article makes it clear that the town of Barnstable is unable to enforce the noise ordinances in this case. I get the impression that the students and the landlord are unable to make binding commitments to be quiet that would allow the homeowners to pay them to be quiet. First, I assume that the college students turnover from year to year - and the article makes it sound like from week-to-week or even day to day. Second, the landlord says he has trouble getting his tenants to comply. Moreover, as noted, the town of Barnstable can't enforce the noise ordinances. This measn that even if the tenants or landlord agreed to be quiet, the municipality couldn't enforce the agreement.