Managing short term rentals and their impact on our neighborhoods. To quote Yogi Berra, “It’s déjà vu all over again”. My campaign in 2007 centered on what at the time we called “mini-hotels” which is synonymous with short term rentals. At that time, we were very concerned that real estate investors and the building of “mini-hotels” would over-whelm our neighborhoods, however the financial crisis of 2008 halted the progress of further incursion into the neighborhoods. Today, however, Wall Street sees short term rentals as a viable investment opportunity and has set my alarm bells ringing again. That is why I love that Yogi Berra quote.

Simply put, not enough votes. Interesting that the 2007 election had a 56 percent turnout of registered voters and the 2011 election only had a 36 percent turnout. It is readily apparent that I failed to convey to the voters that constant vigilance is required when it comes to protecting our neighborhoods. The real estate companies have deep pockets and pay analysts to be vigilant for market opportunities and here we are today.

In order of priority: 1. Managing a balance in Short Term Rentals regarding the Residential Community 2. Preserving and Protecting the Ecology of IoP 3. Ensuring Transparency in all areas of Government 4. Maintaining Fiscal Responsibility of Island Government 5. Monitoring enforcement of Ordinances as written

As I stated in my announcement, the threat we face today has escalated exponentially. In October of last year, luxury vacation rental brand Wander launched "Atlas," the industry's first vacation rental REIT. Their marketing strategy appeals to investors with promises of high yield-passive income, offering eight percent annual returns and a targeted total return of 14 percent. An April 4, 2023 Forbes article titled "Here’s Why Institutional Investors Are Turning To Short-Term Rentals For Growth" clearly highlights their singular focus on "total return," with no consideration for our neighborhoods. They are targeting communities like ours, and if we fail to implement proper controls and restraints on short-term rentals, Isle of Palms will be the most vulnerable along South Carolina's coast. This is especially true now that almost every surrounding community like Mount Pleasant, Sullivans, Folly Beach, Kiawah and downtown have very restrictive short term rental ordinances. It basically comes down to the opening line of the vision state of our Comprehensive Plan, “Isle of Palms has developed into a premier barrier island residential community with a variety of housing styles, commercial uses and recreational facilities.” Either we are a community or a commodity, I’m willing to fight for community.