Claim:
Short term rentals are largely owned by out of state people and corporations.
Facts:
According to data provided to PTN by Park Township through a July 2023 FOIA request, short term rentals are largely owned by Michiganders.
- 41.5% are owned by Park Township residents
- 54% are owned by greater Holland residents
- 68% are owned by West Michigan residents
- 75% are owned by Michigan residents
In other words, over half of the short term rentals in Park Township are owned by hyper-local residents of greater Holland. And 41.5% of the vacation rental owners live directly in Park Township itself. Sometimes right next door to their rental! (Or to someone else’s.)
3 out of 4 vacation rentals here are owned by Michigan families and property owners. This means that Michigan owners are disproportionately and negatively impacted by the township’s decision to create an outright ban rather than enforce reasonable regulations – most of which already exist in the current code.
Strong connections
Some of these families have been here for generations, like Jean McFadden, who has put her heart and soul into her family home. (More on her story here.)
And even the out of state owners typically have a strong connection to the area. For example, take this Indiana family, who is from Michigan originally:
Their Park Township home allows them to have a base in Michigan and connect regularly with local family members who live in Holland, Allendale, and Grand Rapids. Their youngest now goes to GRCC in Holland, so it provides a home base for her as well.
After going through a long list of health issues recently, they decided to sell their primary home in Indiana and downsize, hoping to spend more time up here healing. They plan to continue going back and forth until they can retire in Park Township.
Or this Florida family:
We grew up in Holland, and this home allows us to stay for a few weeks each summer to spend time with family. We stay here with my husband’s parents and sister every year since it is large enough to sleep us all. We have celebrated Christmas together here. Birthdays. Anniversaries.
Our children are broken hearted to learn that this may not be possible going forward. Our hope is to pass this home down to our children and give them a tie to the beautiful place where we grew up. Our weekly rentals allow us to use the property through out the summer and still cover the cost of mortgage/taxes/repairs.
Perception vs. reality
Finally, of the 250 or so short term rentals in Park Township, over 95% are owned by people with just one vacation rental.
These are not profit-hungry corporations gobbling up properties here and sending the money they earn out of state.
There many not even be profits, regardless of where the owners live. Quite a few earn relatively little money, and what those do earn often goes straight back into the community.
That’s because it’s used to pay local business owners and to pay extra-hefty property taxes. (Vacation rental owners pay an additional 18 mill tax for school operating purposes, which primary residence owners do not pay.)
But we’re happy to do our part. We care about our community.
In summary
The majority of short term rentals are owned by our friends and neighbors who are sharing the place and community we love with others.
And a large number of us use the homes ourselves as well, regardless of where we live.
For so many of us, these homes in this vibrant community are so much more than just investments. They’re part of our heart.