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In the News

Summer rentals down 25 percent

 (June 8, 2023) The boom in  the Nantucket summer rental market over the last two years appears to  be in the rear-view mirror, according to data produced by the Nantucket  Association of Real Estate Brokers.


Summer rentals islandwide are down 25 percent so far this year after a 27  percent jump from 2019 to 2021 and an 8 percent drop last year.

Read Full Article From ACK.Net

Carrots and sticks: Vacation rentals and the creation of affordable, workforce housing

 More communities across the nation are coming up with creative  solutions that leverage vacation rentals to boost affordable and  workforce housing stocks.


“As rent and mortgage prices continue to skyrocket, policymakers are  really looking for anything they can do to alleviate the housing  crisis,” said Noah Stewart, head of advocacy at Expedia Group.  “While short-term rentals have been repeatedly shown to have a very  minimal effect on rents, mortgages, and the overall availability of  housing stock, local officials continue to target them as broader  housing issues continue to grow.”

Read the Full article from VRM Intel

Why Isn't The STR Workgroup Considering Other Options?

It's twice now that island voters have rejected zoning changes to  allow full-time STRs to operate anywhere on the Island. The STR  workgroup must think that three times is the charm because its draft  articles propose the same thing.


The workgroup is spending hours  discussing how many STRs any human being can have on Nantucket and how  to protect all existing corporate STRs, and the centerpiece of the  proposal is plain and simple: to gut our residential zoning.

Read The full article from Nantucket Current

Mr. President, What Options Does ACK Now Want, Specifically?

 To the editor: Carl Jelleme, President of ACKNow and the owner of the largest heavy construction company on the island, recently opined in the Nantucket Current that the Short Term Rental Work Group (STRWG) is not doing enough to restrict short-term rentals, in similar fashion to Emily Kilvert’s letter in the May 25th Inquirer & Mirror. His inflammatory attack denigrates the draft proposals of the STRWG saying, “...the centerpiece of the proposal is plain and simple: to gut our residential zoning.”. 


He goes further to make unfounded allegations that the Work Group is beholden to “real estate lobbies and commercial STR interests”. He demands that the Work Group, Select Board, Planning Board, and Finance Committee “....should disclose their financial interests tied to STRs”.

Read The full article from Nantucket Current

Town & Country - The Battle For Nantucket

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