Much has been written and said recently about the soul of the Isle of Palms and how it relates to the threat of being taken over by the short-term rental “industry.”
I would like to share my vision of the soul of the IOP. Like many folks, my family and I discovered the Isle of Palms while vacationing, renting a beach house or condominium for several years – one week at a time. Then, inspired by the beauty of the island and the welcoming attitude of its residents, many decide to invest in a second home that could someday serve as their permanent residence or retirement home. For us, it was around six years between the time we purchased on the island and moved here as full-time residents. For some, it takes longer, and for others only a year or two. To enable this dream to come true, most of us had to rent our home to other vacationers in order to afford the ever-increasing insurance, taxes and upkeep of a home at the beach. To many of us in the corporate world of moving around, the second home at the beach provided the stability of a “home away from home” for a few precious weeks when we could get away together as a family.
Eventually, just about all of us have now become residents of this beautiful island. And in order for this ecosystem to continue, we must be welcoming to vacationers, day-trippers and second homeowners, all of whom will likely become our future neighbors. As a Realtor on IOP, I can honestly say I’ve never been asked by a “large commercial real estate fund” to help them buy short-term rentals. Maybe it happens. In fact, I’ve asked our city planners, other real estate agents, vacation rental companies, etc. No one else is seeing it either. With all the rhetoric at some of the Council meetings and on social media, I can see how some residents have been convinced that it’s coming.
I think we need proof of the impending “investor plague” before we begin limiting the rights of our neighbors and future neighbors. And I really don’t think an internet search for “short-term rental investment funds” qualifies as proof of our impending doom.
Nor that we should “follow the lead of other cities” and cap or eliminate short-term rentals.
There is proof of increased short-term rental licenses as a result of last summer’s proposed ordinance – now that was scary. That ordinance would have been a disaster and scared both residents and future residents into purchasing licenses to protect themselves. In some cases, the ordinance may cause some to start renting. My real fear though, is that many will see the divisive rhetoric and “the sky is falling” language that has occurred as a result of this and decide never to become full-time residents. And that would be a real shame and would truly change the soul of the Isle of Palms. And if we go the route of Folly Beach, then let’s go ahead and organize the full HOA and become Daniel Island.
Thank you for listening.
