If you know me, you know I practically grew up in the Hamptons, when I was a small child I rode my horse in town...today the landscape has changed.... mention the Hamptons and images of Rich and Famous pop into ones head.
Today I read an interesting article about how the town wants to limit rentals of private homes to four unrelated residents. To fill you in a rental in the Hamptons for the summer can be anywhere from 10,000 to 200,000 for average homes and quite a bit more for some truly outstanding estates.
How do many people afford to spend $80,000 for example on a 4 bedroom home...well simple rent 1 room to two people for a half share....I know its fuzzy math but that means that 16 different people will alternate being in that one home.
Is 16 too many? Good questions, perhaps...sometimes the shared houses do get out of control...but the interesting point if the draft proposal that owners would face a fine of at least $500 if they do not register a disclosure of rental to the town with the number of bedrooms and square footage of the home.
So What do you think? Is trying to pass laws that limit ones ability to rent personal property even legal? Will it solve the problem? I have seen both sides but I know that this problem was a lot worse when I was a kid and thats 40 years ago.
Til my next blog! Ciao
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