Newly Recognized One-Month Minimum Rentals in Holmes Beach, FL, Give Buyers Caution....
Holmes Beach has slipped a one-month minimum rental law into place by hiding it in a 2007 comprehensive plan which is now being policed as of July 1, 2008. In this regulation, homes in the R-1 zoning areas cannot be rented for less than one month. Many have been rented for a week at a time in recent years. This change may hurt.
I've just heard about this. The rental companies (and many owners) are in quite an uproar about it. That regulation will seriously affect the kind of money one could earn from renting out a single-family home. With a monthly minimum, that cuts out all weekly rentals. And that's how most tourists want to rent.
Of course, most of us Realtors on the beach think there's no way the law will remain, but one cannot be too sure. And one never knows just when (or really if) such a restriction will be lifted. Holmes Beach has been issuing one-week licenses all this time. I think there will be lawsuits, and we'll have to see what happens.
Among the homes affected are all those along the beach in the central part of the city, and all the homes along canals in Bay Palms. Key Royale as a zoned R-1AA district, has been one-month minimum for a long time. And -- perhaps -- that may be one reason that the exclusive nature of Key Royale homes has diminished in recent years, at least in terms of selling prices.
Now, we just have to wait and see what happens. Here's the zoning map.
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