Contrary to a newly popular narrative, short-term rental licenses on Isle of Palms are not being “fueled by investor groups” or “owned primarily by corporate investment groups, not individuals.” (See recent editorials in The Island Eye). It is common practice for people who rent out their homes to register as an LLC – for the expressed purpose implied in its name: to limit liability. In this increasingly litigious world, most homeowners want to limit their financial exposure to possible renter lawsuits. They need to protect personal savings and other financial investments, which become increasingly important upon retirement. They may rent their home for just a few weeks each year, but, even then, they are probably registered as an LLC.
Please look more closely before you leap to conclusions that may be very misleading and misrepresentation of reality. Just because Wild Dunes is also an LLC does not mean other short-term rental LLCs are “businesses.” Most – if not all – of us other LLC’ers are just trying to protect ourselves, and most – if not all – of us also want to protect our beautiful island lifestyle. We are your neighbors, not corporate villains.
Polly Judson
Isle of Palms
