قالب وردپرس درنا توس
Home https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Business https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ The rents in the Cape Cod are unexpectedly slow in summer

The rents in the Cape Cod are unexpectedly slow in summer



"I'm usually hired," she said. "I think people stay away."

Last-minute deals and vacancies can be a grace for late summer. But some property owners in the Cape Cod attribute an unexpectedly slow summer to a troublesome pair of unwanted arrivals: sharks and taxes. Taxes passed last winter took their first bite on July 1, levying hotel rentals for summer houses for the first time in Massachusetts, adding 12.45 to 14.45% to already steep levels.

  A sign warned the beaches for the presence of large white sharks on Lighthouse Beach in Chatham.
A sign warned that there were big white sharks on Chateau's Lighthouse's beach on 1968

Commerce recognizes down the market, although it has not yet seen data about June, to know how bad it is. But rents in hotel rooms for which taxes are unchanged have also fallen by about 5 percent so far this year, said Chief Executive Officer Wendy K. Northcros, who noted how unusual it is. "Over the last decade they have risen over the year," she said.

Northcross suspects that other factors are in play outside the sticker of the shock of new taxes: wet, nondescript spring and overcharging rents in the market.

"Time is not our friend," she said, underestimating part of the state that saw two rare tornadoes last week.

And, of course, sharks are not good for beach holidays. Last week of swimming for a short time, several beaches of Cap had been interrupted, for safety alone and outside of Truro, witnesses said they saw a terrible "blood eruption" because the seal was swallowed up by a shark.

Haruich – it was the tornado – so Kahlanne is not sure why her house was neglected for the first time in two decades.

  Cape Sands Inn in Yarmouth lost its roof at last week's tornado
Cape Sands Inn in Yarmouth lost its roof last week's tornado. Some property owners blame new taxes to deter tourists – and question whether politicians have taken into account all potential impacts on local residents.

"I think the worst sharks in Wellfleet are politicians who have imposed a 12.45% tax on short-term property rentals owned by individuals who just try to rent their summer home for a few weeks in the summer , Says owner of Wellfleet estate John Salsberg

The Law on Short-term Rentals in Massachusetts was signed in December 2018 by Governor Charlie Baker. The law is aimed at Airbnb's speculators and has directed the field of taxation to hotels where tourists are already paying taxes on employment. The law applies to any house rented for more than two weeks a year. He does not make a difference between a real estate company renting dozens of properties, and a year-round resident who leaves his house for the summer to rent income.

  The port of Falmouth, pictured in August 2014
The port of Falmouth, pictured in August 2014

The tax is supported by the Chamber of Commerce and Industry includes a number of layers: Cape Cod legislators are charging a tax to improve water quality, and some Cape Town cities have at the same time increased their tax rate for local employment. or 4 or 6%.

All in all, this has increased the rental price by 12.45% in Chatham, Dennis, Eastham, Falmouth, Harwich, Truro and Wellfeld, and 14.45% in Barnsley, Bourne, Brewster, Mashpi. , Orlean, Provident and Yarmouth.

That's why a weekly rent for a house in Yarmouth, which once cost $ 4,000 a week, costs $ 4,578. “Наусет” в Ийстъм по време на здрач на 22 май ” class=”height_a width_full width_full–mobile width_full–tablet-only” data-src=”https://www.bostonglobe.com/resizer/Debtii2cLYFH4sqdhR4cWbMuA_c=/20×0/arc-anglerfish-arc2-prod-bostonglobe.s3.amazonaws.com/public/VOONLMUAAAI6TOCQJ55XSOEIQM.jpg” src=”https://www.bostonglobe.com/resizer/Debtii2cLYFH4sqdhR4cWbMuA_c=/20×0/arc-anglerfish-arc2-prod-bostonglobe.s3.amazonaws.com/public/VOONLMUAAAI6TOCQJ55XSOEIQM.jpg”/>

Mayac “Наусет” в Ийстъм по време на здрач на 22 май ” class=”height_a width_full width_full–mobile width_full–tablet-only” data-src=”https://www.bostonglobe.com/resizer/Debtii2cLYFH4sqdhR4cWbMuA_c=/20×0/arc-anglerfish-arc2-prod-bostonglobe.s3.amazonaws.com/public/VOONLMUAAAI6TOCQJ55XSOEIQM.jpg” src=”https://www.bostonglobe.com/resizer/Debtii2cLYFH4sqdhR4cWbMuA_c=/20×0/arc-anglerfish-arc2-prod-bostonglobe.s3.amazonaws.com/public/VOONLMUAAAI6TOCQJ55XSOEIQM.jpg”/>
Mayac "Naucet" in Eastham at twilight on May 22 Boston Globe

Some property owners have tried to mitigate the impact of tenants by dropping their rental charges. Salsberg, co-owner of Lieutenant Island's house in Wellfleet with his wife and friends, cut his rate by 12.45% before the season.

But his house on the beach, with a huge deck and panoramic views, is still open week – and in the last week of August, even after cutting the price by another 23%.

He thinks they've lost $ 10,000 for the summer. "I will pay for this state income tax," he said. "All he does is hurt individuals like me and tenants looking for the opportunity to just be in the house by increasing their costs."

Taxes pushed on July 1. , whose year-round rents began technically in June. Reservations that were booked before 2019 are also released this year.

  The head of the Truro meadows beach, pictured in August 2018
The head of the Truro meadows beach, pictured in August 2018 (David L. Ryan / The Staff of the Globe) 19659006] Stephen Giatrellis still has holes in the calendar for his luxury house on the coast of Hianis. Even after cutting the rate to $ 4,000 a week, from $ 5,000 (before taxes), he could not lock his current tenant until Wednesday last week. And in August there are still vacancies. "I do not know if everyone is afraid of sharks or taxes or what," said Giatrellis.

Normally the house is reserved for seven weeks; so far this year, it has been reserved for just four.

"I have listened to all, other friends who own property that they are also excluded this year," said Jatrellis, a builder and entrepreneur who lives.

State Senator Julian Sir – a Democrat who is a nose who grew up in the tourism industry and has family ties with the rental industry – said it was too early to state the cause of the softness of the market. 19659002] "I think it's too early to say whether there is a final factor," Sir said. "I think that with regard to short-term rentals, we have never had an employment tax. We have passed from having no tax to have a tax on it; I'm sure there's some sort of shock from the sticker. "

He also noted that with the growing ease and popularity of online sites, from Varbo to WeNeedAVacation.com on Cape, more owners are trying their luck to rent their properties. Some homeowners may lose all new competitors.

"The tax will definitely force owners to work on their properties, repair them or at least update if they want to hire," Cape said. real estate agent Joe Baker. "People buy them because they have all these shows on TV. There are many people who are doing it now, I think it's rich-quick. "

  A low tide of Cape Cod bay offered some heat relief to beachgoers in Provincetown in August 2018.
Low tide of Cape Cod Bay offer (Stan Grossfeld / Globus Staff)

Northcros, CEO of the Chamber, noted that Cape has had a rapid growth in short-term rentals.

after three years, "she said. "So we can look at supply on demand."

And despite the noise, she thinks that housing and economic trends are probably more guilty than sharks. In May, she said, her organization conducted independent focus groups to assess whether nose visitors would be kept away from shark fear. Nobody said yes, she said; Instead, they said they would limit themselves to deep ocean water.

Moreover, she noted, hotel reservations are also in other places in Massachusetts – from Plymouth to the Islands to Berkshire, she said. ] "It is obvious that the behavior of some users changes," she said, "since Berkshires are down and have no sharks."

  White Crest Beach at Wellfleet, as depicted in July 2014
White Crest Beach at Wellfleet, as depicted in July 2014. (Joanne Rathe / Globe Staff / File)

Stephanie Ebbert can be found at Stephanie.Ebbert@globe.com. Follow her on Twitter @StephanieEbbert.


Source link