Fees, Fees and More Fees
Vacation rental owners, break out your wallets.
A bright full moon rising over south Cocoa Beach last night.
The City of Cocoa Beach has proposed to increase fees for vacation rentals. The increases are breathtaking and anyone looking to purchase a vacation rental property in Cocoa Beach should take them into consideration when estimating costs. The initial application and registration of a new vacation rental is proposed to increase from $525 to $2500 and the annual renewal of the same to go from $325 to $1500. If that got your attention, here is the entire list of proposed new fees. How about those $1000 a day fines for some infractions?
I had the pleasure of dining at the new Koko Japanese Pub across from City Hall downtown Cocoa Beach last night. Based on that one experience which was just three sushi items and a dessert I’d give a hearty thumbs up to our new neighbor. The yuzu ponzu sauce on the hamachi crudo was especially good as was the scallop tiradito with cilantro micro-greens. Our meal began with the bluefin roll made with three different cuts of bluefin which was likewise excellent. I don’t remember much about the tres leches cake sprinkled with chocolate crumbles other than that I kept repeating, Yum. It was delicious. The service was friendly and the atmosphere cozy. I’m pretty picky about restaurant meals but I liked everything about my experience there. I’ll be back. Koko Pub is a win for Cocoa Beach.
“There is nothing government can give you that it hasn't taken from you in the first place.” _Winston Churchill
Six months and one day has always been the legal defining line between short abd long term rentals so I imagine that's not changing. Other vacation destinations are facing the same issues and there have been all sorts of legislative deterrents tried so I'm not sure there is a suitable more/affordable alternative. We have always been among the cheapest of Florida coastal destinations. Our visitors have not pushed back on the doubling of most rental rates since Covid so more small increases will likely not have much effect. Landlords have enjoyed the rent inflation of the last five years and most could easily absorb the higher fees if necessary although I don't expect many to take that route.
"Easily absorb the higher fees" for any rentals less than six months?...my arse! Watch what you wish for Cocoa Beach, you just may get it. Was never interested in the Airbnb crowd, but at those punitive rates my vacation home will now be off the market for snowbirds, its no longer worth the pain and additional risks to offset even less of the ownership costs. It will now sit vacant 9+ months of the year and local businesses will lose tourist revenue. I predict property value decreases from those who can't afford it and property tax revenue hits. It's not like insurance costs aren't skyrocketing too. Maybe studying what has and hasn't worked elsewhere first might be smarter? If the concern is parties there are other ways to deal with that, including a more realistic definition of short term rental length. Treating small property owners like piggy banks (or the root problem) hasn't worked for blue states, so good luck with that!