New Vacation Rental Ordinance Could Damage The Florida Rental Market
Florida property owners are concerned following the adoption of a Vacation Rental Ordinance within the city of Anna Maria, FL. Effective January 1, tighter restrictions will be placed on vacation property owners, vacation rental agents and guests who rent Anna Maria vacation properties.
The ordinance restricts occupancy levels and increases strict enforcement protocols. Failure to follow these restrictions would create serious consequences ranging from a citation to loss of licenses and the ability to continue renting property.
Like many popular Florida destinations, the city of Anna Maria is dependent upon rental income, with 60% of their property dedicated exclusively to vacation rentals. The potential loss of income the ordinance may bring could deliver a serious hit to the Florida rental market, especially if similar rental markets follow suit.
The REALTOR® Association of Sarasota and Manatee (RASM) got involved over concerns of property right infringements. Following a meeting with more than 50 REALTORS®, RASM had their members email elected city officials and request they meet with RASM in order to open up dialogue. The association is not against the reasons behind the ordinance and respect the desire to maintain the integrity of the City of Anna Maria. Their efforts are to shed light on the future and the unintended consequences that will stem from this ordinance.
The effort was successful and within 24 hours RASM representatives met with the Mayor to discuss the terms of the ordinance. RASM hopes their efforts will help to shape an ordinance that is accepted by all parties involved. RASM is also working with the law firm Robinson & Cole, who are reviewing the ordinance and the impact it will have on vacation rentals and ownership in Anna Maria. RASM will share facts from the study with elected city officials.