ACK-Now is a small group of people with special interests that are proposing severe short-term rental restrictions on Nantucket property owners under the guise of supporting the Affordable Housing Intiatives (last year) and 'Protecting Property Rights' (this year). When their citizens warrant article, put forward last year, was resoundingly defeated by a 2-1 margin, they drafted one that is worse. This year’s article (43) would protect the rights of Nantucket year round resident homeowners to short-term rent only their principle residence and force everyone, including all with secondary units on their property and second homes/properties to seek a special permit from the Zoning Board of Appeals (ZBA). Since the ZBA processes only a few special permits per month and each requires a public hearing and legal advice is highly recommended, this process will shut down the short-term rental market indefinitely.
Each year has a different Trojan Horse tactic but the bottom line is that they would like to restrict access to the island to those who do not need to rent their homes to afford them or to provide supplementary income for college costs or retirement.
Many Nantucket property owners will not be able to afford their dream home without the rental support. How will year round residents planning to retire to warmer climates be able to retain their Nantucket home so they can return to it? How will multi-generational families who have acquired cottages and other 2-3 season properties be able to hold onto them? How will islanders who have to leave the island temporarily for work or other family situations be able to keep their island homes? How will vacation homeowners who have to rent to afford their mortgage and ongoing maintenance be able to stay? If you move into Our Island Home and need STR rental income to pay for your care, who will stand in line for you at the ZBA? Not only will a select group of people be determining how and when you use your home, they will be setting forth a series of consequences for the community to manage. Like where will the reduction in tax revenue be made up? How will the off season economy fare when it thrives on long weekend rentals? How will service providers capture lost sales from rental turn overs and maintenance?
The island will feel the impact of ACK- Now restrictions. Property values will decline. Average people will lose their ability to invest in our community. Legacy homes will be forced out of generational hands in the future. The island GDP will decline proportionately to the reduction in vacationers and the rest of the community will feel the secondary economic impact with less needed services and less disposable income circulating.
SIGN UP TO STAY CONNECTED.
JOIN OUR COMMUNITY AND SHARE THE FACTS WITH YOUR NEIGHBORS, FRIENDS AND PROFESSIONALS.
VOTE YES ON ARTICLES 39 and 42
Protect Nantucket’s Character and Way of Life
Article 39 proposes a smart regulatory framework to manage short term rentals
Article 42 confirms short term rentals are part of the use rights on your property