WATCH VIDEO.
There are approx 700 AirBnB and other short-term rental properties in Atlantic City. Only 85 are legally registered and inspected by the city.
wtf.
Only 85 out of 700 short term rentals in Atlantic City are properly inspected and permitted. These 85 are the only ones paying mandated license fees.
Why was compliance enforcement ignored for years? No one taking the blame for this one.
Will out-of-control renting just get worse? Depends. The City just hired outside firm to ‘police’ online rentals. They will help AC levy fines against those breaking the law.
AC City Council will soon vote to place heavy fees and restrictions on those who rent out their Atlantic City properties.
AirBnB, VRBO and other online real estate platforms are a diamond in the rough for AC. Home values have risen in response to growing demand for short term rentals in AC.
Higher property valuations = more tax revenue raised. Higher demand for rentals = more people spending money in all of Atlantic City. Not just the casinos.
CRDA and Casinos like the idea of heavy-handed fees, fines and inspections. Casinos are primarily focused on selling out their own hotel rooms. No interest in competing with private homeowners, especially those within the CRDA controlled Tourism District.
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