When you see signs, letters and flyers urging you to vote “no” on the referendum, please think about where this message comes from and why.
Businesses reliant on short-term rentals are the driving force behind this message. The IOP Chamber of Commerce – a large source of the mailers and signs – membership is over one-third real estate and STR rental businesses. They have a vested commercial interest in more STRs solely to make more money, not necessarily in what is best for our residents and community. One sign even proclaims “preserve our neighborhoods, vote no.” To be clear, to preserve my neighborhood, I must vote to allow unlimited STRs? The Forest Trail area is my neighborhood. It nearly doubled in one registration year going from 13% STRs to 25%. Residents are not hoarding licenses; only 184 residents hold STRs. We are at 35% investor STRs islandwide. That is 15% away from 50%. Look out your window and ask yourself how your neighborhood would look and feel if half or more of the houses you see are STRs.
Other signs and flyers claim your property value will plummet if we cap STRs. This is fear-mongering and speculative. Sullivan’s Island banned nearly every STR 23 years ago, yet their property values are significantly higher than IOP’s. The “no” backers argue that is not a fair comparison because Sullivan’s is different or maybe even better than IOP. Different, yes, but better? IOP has the same, if not a better beach – we have waves! IOP has equally good restaurants, the Rec Center, Wild Dunes with two golf courses and a pool for the swim team. Sullivan’s and IOP also share our amazing elementary school, which boosts property values equally. I take pride in our island and believe it is just as attractive to residents as Sullivan’s.
These signs indicate the sole value of our homes is their rental potential. I wholly disagree and believe the true value of our island is from the residential community who call this island home. We are one of the most desirable places to live in South Carolina. Preserving our residential community and capping STRs will safeguard the value of our homes for ourselves and future generations.
Please vote yes on the referendum. If the referendum passes, I pledge to amend the ordinance to exclude the business district and ensure that all who currently hold STRs will be able to renew their license year after year.
Katie Miars is a member of the Isle of Palms City Council.