Nantucket Voters Ban Corporate Ownership of Short-Term Rentals

5/15/2024

A ban on the corporate ownership of short-term rentals (STRs) was adopted on May 7 by voters of Nantucket, Massachusetts. Article 60 was a general bylaw amendment proposed by the Select Board as a compromise with the sponsors of competing citizen petitions related to STR restrictions. The amendment is intended to "prohibit additional corporate ownership and discourage investment-only ownership of residential properties for the exclusive purpose of operating them as short-term rentals rather than housing for either full-time or part-time residences." It also bans new STRs in housing units designated as affordable housing or income-restricted.

Nantucket Current (05/08/24) Jason Graziadei; David Creed