Weekly Rentals Offset Homeowners Expenses

In August, voters will be asked to vote on whether to limit guest vacation rental stays to a minimum of 30 days. Passage would have an immediate catastrophic impact on local businesses and their employees. 

We’ve owned our home on Marco for 22 years. We’ve rented it for approximately 30 weeks each year with a 7-day minimum stay. We tried for two years to maintain a two-week minimum stay at our home. Bookings dropped so severely over this period that we had to return to a seven-night minimum stay. A thirty day minimum stay mandate would have resulted in our home being vacant for months at a time.

The substantial vacancy rates that would result from its passage would result in a devastating reduction in tourist dollars spent on Marco. Weekly guests inevitably spend more on restaurants, movies, local guides, rentals, souvenirs and attractions during their one week stay than a monthly guest would begin to spend per week during their thirty plus day stay. There is no money spent when homes are vacant, which is virtually guaranteed outside of peak months. 

Many homeowners rely on rental income to offset expenses. Without this income many would be forced to sell their homes. When the supply side tilts in the wrong direction real estate home values suffer. Many buyers could no longer afford to purchase a home for the very reason the seller had to sell their home. 

BECOME INFORMED. READ the legislation. Vote NO to its passage.