Home : Blogs : Larry Chatt : Larry's Blog

Lions, Tigers, and Rental Restrictions ...oh my!

So...it happened. Somehow one of our cities on Anna Maria Island passed through a new month minimum rental restriction in our R1 districts. There are lots of owners that count on their $30k - $75k rental income to help pay their debt service, property taxes, and insurance. The new month minimum will cut their gross income to less than $20k per year. More importantly, what impact the rental restriction will have on our local Anna Maria Island Real Estate.

I would love to hear from those of you who have seen similar rental restrictions. In addition, do you have a success story you can share with us regarding reversing the restriction or if the rental restriction resulted in a positive result that we have not anticipated.

Thanks!

Larry

Posted by Larry Chatt on 07/16/2008 09:07 PM

Comments (3)

anna maria island, rental restriction

Post is included in group: Flipping Houses for Dummies!
Post is included in group: Second Homes
Post is included in group: Vacation and Second homes
Post is included in group: Vacation Home Rentals
Post is included in group: Manatee County Florida

3 Comments on Lions, Tigers, and Rental Restrictions ...oh my!

JUL

2008

Anna Maria Island's character has certainly changed over the years. I can't say how this will affect the area (other than to make it more competative with Longboat Key), but you can bet my real estate family and I will be watching attentively.

JUL

2008

Larry i'm kind of stuned, who wouldn't come out against this type of restrictive use policy, do you require a vote to change these rules, and what type of % does it take to pass a major zoning change or is this a association thing? Steve

Steve,

We are all stunned but surprises happen quite often on Anna Maria Island. Shame on me for not knowing the details of how something like this can happen but time will only tell if I learn from my mistake of not making the public meetings. We have over 100 realtors on our tiny island of 7 miles and seems as though its a surprise to all of us. Thanks for your support in recognizing this is unbelievable.

Leave a response…

Name:

Email:
(optional)

Comment:

What does the graphic say?