Florida Keys Real Estate Blog

According to an article that was in the July 2, 2008 edition of the Free Press Newspaper a long-in-the-works regulations establishing vacation rental licensing are set to take effect on October 1, 2008. 

The vacation rental regulation says that all village homeowners who wish to rent their properties for periods less than 28 days must apply for a license between July 15 and August 15, 2008. The annual licensing fee will be $1,000.

The regulations limit the total number of vacation units within Islamorada to 331 annually.  If more than 331 applications are submitted, priority will go to owners who can prove they have been legally renting their homes up to now. 

The regulations forbid homeowners in single-family neighborhoods, zoned residential medium, from obtaining a license.  Exceptions will be made for homes in those neighborhoods that have been rented short-term since 2001. 

The village passed its vacation rental ordinance in February 2006 but implementation has been delayed by a lawsuit filed by Realtors, homeowners and condominium owners who argued that the regulations would lower property values and harm the Islamorada economy.

A Tallahassee appeals court ruled in favor of the village in February and the case was permanently closed last month.

For more information please visit the Village website at www.islamorada.fl.us

And, remember, if you or anyone you know is looking to buy, build, sell or inspect a home in the Florida Keys, call us at (305) 289-6634 or visit our website at www.BuyInTheKeys.com