The Jersey Shore is a very popular place for tourists, especially in the summer. Because of that, many investors buy up Downbeach homes and rent them out. Some love spending extended time here so much that they purchase a second home here. Then, when they aren’t living here, they rent it out. Then, of course, there are those of us “lifers” who live here year-round. Well, up until now, no minimum stay requirement has ever been placed on Ventnor short-term rentals. That may change. But before the Commissioner’s Board makes a decision, they want to hear from the public.
Ventnor Short-Term Rentals
Next Thursday, February 9th, the Commissioner’s Board invites all Ventnor homeowners to an open meeting at City Hall. The meeting starts at 5:30 pm. If you own any property here in Ventnor, I strongly encourage you to show up to voice your opinion.
Right now, Airbnb lists over 400 Ventnor properties for rent on its website. You can find hundreds of other short-term rental properties on sites like Vrbo, Craigslist, and Facebook as well. Margate has a strict one-week minimum stay for their short-term rentals. Other municipalities in the area lowered theirs to a two or three-day minimum stay. In other words, at least a full weekend. Officials in Ventnor never implemented any minimums.
As a year-round resident, this may sound like a great idea. But if you are an investor or a second home property owner (you use your home for personal use part-time but live elsewhere), any limitations may feel too restrictive. Everyone has a unique perspective about this topic that deserves to be heard. And that is why I hope you will seriously consider showing up at the meeting next week. The Board promises to listen to everyone and consider each side when weighing their decision.
If you have any questions about property values, local rules, laws, and regulations that affect homeowners or simply want to know what’s happening in the Jersey Shore real estate market, please feel free to contact me. I am always happy to answer any questions you may have about this wonderful place I call home.
Sherri Lilienfeld, eXp Realty, Your Source for Jersey Shore Real Estate