Most members of the Isle of Palms business community oppose restrictions on short-term rentals, according to a survey compiled by the IOP Chamber of Commerce. The Chamber asked for its members’ opinions on the subject following the City Council’s Jan. 9 workshop on short-term rentals. The 14 responses to the question, “How would an STR cap impact your business or industry?” were submitted between Jan. 16 and Jan. 20. Last year, the IOP Planning Commission floated the idea of a cap on short-term rentals in some areas of the city, and the Council considered but eventually voted down a proposal to establish a moratorium on issuing short-term rental licenses.
The Council was scheduled to hold another workshop on STRs on Jan. 23. “These businesses provide our residents and visitors with island conveniences like lawn care, groceries, medicines, real estate transactions, entertainment, restaurant meals, recreation and special services,” Chamber President Ryan Buchannon wrote in a letter to the Council. “They play a key role in collectively maintaining our high quality of living, positively impacting our tax base and making the Isle of Palms a wonderful place to live and work.”
“We heard Council clearly regarding their need to gain more information to determine the future direction related to STRs and applaud you for pausing in your decision making. In general, we heard there needs to be a balance between the statistics, how other regions are making decisions on STRs and objective feedback from residents and businesses,” he added.
One Chamber member in the food and beverage industry pointed out that “I am reliant on the short-term rental industry. Short-term rentals have been and continue to be the lifeblood of Isle of Palms. Nearly 100% of my business comes from short-term renters, not from people visiting the island for a day trip. Capping or reducing short-term rentals on the island will significantly impact my business and the local business community as a whole.”
Another member in food and beverage said, “Anything to cap rentals on the island not only throws a chunk of business to waste but also further pushes a reputation that ‘the island does not want you here’ to nonresidents.” In the real estate industry, Chamber members said “80% of our business is tourist and not local business,” and “I imagine that a severe limit on short-term rentals would prompt many to re-evaluate their investments on IOP and likely sell.”
Another member said the real challenge is “embracing and preparing for the growth of the areas around the island” and questioned why parking and traffic flow are not being addressed. Those in property management who responded to the survey were opposed to restrictions on short-term rentals, with one of them pointing out that “our decision to do business on the Isle of Palms was directly attributed to tourism and the island’s quality of life. We see no changes needed to the short-term rental policies and no need for an STR cap.”
Members in home services and construction voiced their opposition to short-term rental restrictions, while a member in the recreation industry said: “I feel strongly that property owners should retain the right to be able to rent their properties if they desire. Like many neighbors, I bought my house knowing I could rent it out if I ever needed to. Just because I don’t currently use it as a rental, I don’t think that right should be taken away from me.”
In addition to Buchannon, Chamber officers include Rod Turnage, vice president; Sandy Stone, treasurer; Scottie Frier, secretary; Katrina Limbach, immediate past president; and John Carroll, advisor.
