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VACATION RENTAL IMPACTS - BRIEF SYNOPSIS
A recent check of an online rental agency listed 1,458 vacation rental properties in Islamorada. The Village Vacation Rental registration lists 257 properties. If you are an Islamorada resident and have endured some of the issues associated with vacation rentals in your neighborhood, you likely don't need convincing that this is a serious problem.
Short-term rentals (less than a month) have been controversial for years. Decades ago, vacation rentals in Islamorada were primarily a way for folks with vacation homes to help with costs of owning a second home.
Times have changed. Now short-term rentals are in huge demand with tourists. Investors are buying up building rights for single family homes to create “private mini-hotels” using Vacation Rental licenses to compete with our existing commercial hotels and motels. It is a very lucrative business with some large “homes” that are permitted as single-family renting for more than $2,000/night with occupancy as high as 10 tenants.