Isle of Palms Rental Property Debate
One of the biggest things affecting real estate on the Isle of Palms is considerable debate regarding several issues, specifically overcrowding, noise, parking, and trash. A group of residents recently presented a petition to City Council outlining some sweeping recommendations to curb these problems. If enacted as ordinances, these recommendations have the potential to significantly impact rental and property rights on the island, as well as most businesses.
The business community agrees that proper attention has not been given to these issues in the past, but believes it’s possible to find a compromise that will address the real problems effectively and protect what people have grown to love on the Isle of Palms: the quality of life.
Here are the issues being debated:
1. Stricter rules and regulations on terms of “short term” rentals, including a one week rental minimum.
2. A cap on the number of short term rental leases at the current level.
3. A cap on the size of new home construction of 5,000 square feet, which would include unheated square footage.
Although a group of people supported the petition, when probed further, it appears that many people are simply looking for “a” solution, not necessarily “this” solution.
The reality is that we’re all one island and one community; we feel confident we can find a compromise that will benefit us all. It is estimated that 1 million of the visitors to Charleston every year stay on the Isle of Palms. The loss of the tax dollars from these rental properties would affect us all - our safety, beaches, roads, and environment. The Charleston Metro Chamber of Commerce estimates that by limiting non-residential use of properties, approximately 75% of current tax funds would go away. This would mean Isle of Palms annual budget would decrease by a full 30%!
Recognizing this, the business community is proposing the following compromise for stronger guidelines and regulations for all rentals, in which rental property managers would take a lead role in executing:
- Group Activities (parties/weddings): not allowed in professionally managed homes
- Trash: Rental companies will provide one trash can per two bedrooms, and all rental properties must use liscensed trash removal service.
- Parking: Capacity will be one car per bedroom, and parking passes will be required for every rental property and will be issued on a capacity basis.
- Noise and Civil Disobedience: Noise ordinances will be posted in each property and remind guests of Isle of Palms quiet hours through confirmation process.
- Overcrowding: Capacity will be limited to two people per bedroom plus two individuals
As businesses, we must also pro actively take charge of policing ourselves in the following ways:
- Promoting and communicating new rules and regulations to all renters and residents, as well as solving problems when and if they arrise.
- Establishing a single 24 hour contact number for citizens to report concerns regarding rental homes.
- Removing all rental signs from properties.
- Establishing a universal registration card where rental guests acknowledge Isle of Palms ordinances and consequences if violated.
We must also back and participate in the newly created Livability court, based on Charleston’s nationally recognized model that was successful in prosecuting 1965 violations in its first two years.
We at Prudential Carolina Real Estate feel confident that we can find a solution we can all live with before the upcoming tourist season.
Trudy McNelis
Broker-in-Charge
The thoughts on this website do not necessarily reflect those of Carolina One Real Estate.
Carolina One Real Estate | 877-663-3456
1400 Palm Blvd Suite E, Isle of Palms, SC 29451
info@palmettobeaches.com