Copy of Editorial - 1
The anti-STR cap entities are continuing a relentless campaign of misinformation and disinformation. Much of the false narrative is supported by flawed and/ or contrived pseudo-data which is designed to create the illusion that the number of STRs on the Isle of Palms is on the decline. In reality the number of STR licenses, based on data available on the IOP website, increased in the past 18 months from 1,403 to the current level of 1,777, resulting in an increase of 27%. Currently, STR licensees are 39% of the 4,571 total dwelling units on IOP. This new high of STR licenses is proof positive that “our community” has and is continuing to morph outside the guidelines of one-third residential (4%ers), one third second home owners (6%ers) and one-third rental properties (also 6%ers) that defines the long-held desired balance.
It is the clear preference of those who make IOP their permanent residence that every effort be made to preserve the one-third, one-third, one-third critical balance between the three described entity classes that has heretofore defined our community. Save for enforcement issues that the Town Council has already committed to address, allowing that defining balance to be upset by the growing number of short-term rentals is the single most important concern for those that make IOP home.
Why is the Isle of Palms the only Lowcountry community without an STR cap? Common sense dictates that if the IOP remains the only beach community available for STR income opportunity rental property, penetration in the area will continue to increase. The STR referendum currently formulated by a cohesive group of concerned Island homeowners caps the number of STR licenses above the current number of licenses issued. The referendum being designed will permit all current license holders to renew their existing licenses and, thus, continue to rent their properties.
Those who maintain their IOP home as their full-time residence are exempt from all caps and restrictions. Please apply common sense and support the referendum to cap STRs.
Visit Preserveiop.org for more information, to volunteer or to arrange to sign the petition. We’ll come to you.
Tom Schmidt
Isle of Palms