Voters understood the value of the local vacation rental industry
WASHINGTON, DC (June 5, 2018) – Following tonight’s unofficial election results, Mike Copps, Executive Director of the Vacation Rental Management Association (VRMA) issued the following statement:
“While the results are still unofficial, it appears that Palm Springs’ voters have chosen a path that understands the vacation rental industry and the incredibly valuable role it plays in supporting the Palm Springs economy. VRMA is encouraged that the Palm Springs community can resolve their issues, especially as a highly-desired vacation destination. Palm Springs already has one of the strictest sets of regulations in the country. VRMA members and the greater vacation rental industry have already conceded many times on various issues and will continue to work with community leaders.
“There are many long-standing VRMA members in the Palm Springs community; professional property managers who will continue to work with local officials to resolve issues that arise. Professional vacation rental managers provide travelers with lodging options that they are increasingly looking for when choosing vacation destinations.
“In addition to luring visitors to the state, the vacation rental industry offers immeasurable direct and indirect benefits, with second homeowners providing a significant portion of tax revenues and travelers staying in vacation rentals spending higher than average sums of money in the local community, generating additional tax revenue, employment, and economic development.
“With the defeat of this ballot initiative, the community has welcomed a core set of principles that professional property managers bring to the job, including a dedication to quality service, an understanding of the 360-degree guest experience, knowledge of the latest safety techniques, and the key relationships needed to address almost any issue that might arise. Their service-oriented backgrounds have uniquely equipped them to help their guests with the entire experience from reservation to goodbye.
Passage of ballot initiative C was projected to cause over $10 million in lost tax revenue to the city and upwards of $190 in lost economic impact to the greater community. The defeat of this initiative will also preserve the Palm Springs vacation rental enforcement division.
Copps continued, “We hope that city leaders and the community will be able to negotiate common sense and enforceable solutions that recognize the importance of the tourism industry and specifically the vacation rental marketplace to the greater Palm Springs area.”
The ballot initiative failed, 31.73% in favor and 68.27% opposed.
VRMA is the leading voice in advancing professionally managed vacation rentals as a safe and reliable lodging option for traveling consumers. VRMA’s top mission is to drive professionalism in the industry, preparing managers to more responsibly represent and work with property owners and local communities to provide guests with the highest standards in maintenance, housekeeping, guest protection, safety, proper inspections, and a host of other issues. This high level of professionalism is the key differentiating factor between professionally managed rentals and owner-managed or non-professionally managed properties.