Residents of Nantucket have voted against a proposal to limit their ability to rent out their homes at the tourist destination.
, which would have prohibited short-term rentals in residential zones unless the owner either lives in the home for at least six months per year or uses long-term rentals more than short-term rentals.that the proposal would have given property owners options to rent as long as they fulfilled one of the criteria.Get New England news, weather forecasts and entertainment stories to your inbox.
"We couldn't command enough rent to pay all the expenses and the taxes," Taylor said."Nobody on our street is an investor, we're all families, just like us, trying to hold onto our houses." "If you agree that Article 60 means a property needs to be occupied by an owner or a tenant for six months or more of the year, then very few existing short-term rentals on Nantucket are compliant," said Rod Motamedi, assistant director of economic policy and research at the Donahue Institute."I understand why this is a difficult question for the people of Nantucket," Motamedi said.
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