Nantucket’s thriving short-term rental industry offers benefits in a major source of local tax revenues and income for homeowners, but has attracted blowback in recent years for absentee investors’ role in the residential real estate market.
Short-term vacation rentals are a lucrative business in Nantucket and an important share of taxes for the town budget. But a court ruling has thrown the future of these vacation properties in doubt.
As a result of the coronavirus crisis, the Cape hospitality industry is now looking at possibly the greatest year-over-year plunge in business in recent memory, as state social-distancing restrictions put a damper on business.
