February 10th the Holmes Beach, Fl city commission discussed the R1 one month rental restriction for a second time in 2009. The February 10th speakers were predominantly made up of local residents that strongly favored the one month rental minimum along with several hotel-motel establishments that supported less accommodation competition.
I did speak during both discussions however the limited support speaking on behalf of the silent majority of absentee owners was not enough to overturn the decision in 2007 to enforce a one month rental for R1 Holmes Beach properties. Our local real estate professionals did not turn up at either of the R1 rental restriction discussions. This is disappointing given the fact that we are all supported by buyers purchasing a second home to support their retirement dreams. More than 70% of second home buyers are using vacation renting income to help offset operational costs and one month rental minimums cut incomes by more than 50%.
More specifically, any property that was in possession of a weekly Holmes Beach, FL rental license in March of 2007 will have 10 years of continued one week rentals. After ten years the one week rental license will "expire" and one week rentals will no longer be allowed in R1 areas. New or current R1 Holmes Beach owners requesting a one week rental will be declined from now on.
Don't panic yet, Holmes Beach and Anna Maria City still have plenty of accommodation choices. Some owners will be a little surprised after their one week Holmes Beach rental license is declined. If you have any questions give the Holmes Beach city hall a call or contact me.
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