UPDATE – Article 90 Short-Term Rental Bylaw
ACK•Now remains dedicated to protecting our community and the ability for year-round residents to call Nantucket home by amending Article 90:
- To preserve the freedom for year-round residents to rent their homes.
- No limit on the number of days. No minimum stay.
Here’s the story:
Like many other desirable communities around the world, Nantucket has faced decades of negative impacts from outside forces. The community has fought hard to create protections that preserve the Island’s beauty, culture, and history, such as the LandBank and the HDC. And we continue to fight to protect the Island and its fragile resources from being ruined by overdevelopment and the resulting fallout.
The latest tidal wave threatening Nantucket is the transformation of the local and traditional vacation rental market. Investors from across the country are looking to short-term rentals as the next business opportunity, and many are picking Nantucket as the ideal location to turn a profit. This investor trend impacts year-round housing, neighborhoods, the infrastructure, the environment, and is dramatically changing the Island’s culture and character.
Investor-owned short-term rentals have done substantial harm to the island over time by:
- Eroding year-round housing stock. [Don’t believe this? Here’s the data.]
- Driving home prices and rents up. [Here’s a study on the impacts of short-term rentals on communities nationwide. ]
- Disrupting neighborhoods. [Need proof? Talk to your friends in these neighborhoods: Town, Miacomet, Naushop, or check out this article in The Wall Street Journal.]
- Harming the community’s character. [Learn how Arizona’s communities are disappearing in this Mayors’s letter.]
- Focusing on the bottom line and extracting as much from the island as possible. [See what some of these properties are taking from the island economy here. Pay close attention to the cost per night and week.]
- Driving development toward an island-wide luxury resort. Pool, cabana extra bathroom for more income. [Nantucket is transforming. Into this.]
- Even affordable housing developments [like Beach Plum Village] are undermined by short-term rentals.
- Straining natural resources and infrastructure. [The average STR accommodates nearly 3 times the average Nantucket household. Investor short-term-rentals average nearly nine people per rental and many accommodate five to 25 people or more.]
What this proposed bylaw does:
- Curbs outside investor demand intensively occupied short-term rental businesses on Nantucket.
- Preserves traditional rental opportunities for Nantucket’s year-round and seasonal residents.
- Gives year-round residents a better chance at homeownership.
- Offers neighbors a process to fight noise and disruption.
- Helps preserve Nantucket’s character and culture.
How does this proposed bylaw work?
- Creates a local registry with emergency contact information.
- Two types of short-term rental permits: resident permit and non-resident permit (best suited for seasonal residents).
- Any stays of one month or more aren’t affected.
- Resident permit is for residents seeking to short-term rent their home (or part of it) and entitles the resident to offer up to 90 days (up to 13 weekly rentals per year).
- Non-resident permit entitles up to 45 days of short-term rentals per year (over 6 weekly rentals) to offset costs without attracting more investors looking for huge profits.
- One-week minimum stay – except for residents wishing to offer a single private room.
What can you do?
- Attend Nantucket’s Annual Town Meeting in June and support the short-term-rental bylaw.
- Help by bringing information to your friends and family.
- Write to your elected officials and the newspaper.
- If you have a home to sell, consider selling to a year-round resident or a local housing nonprofit.
- If you have a rental to offer, consider renting year-round.