EDITOR, The Tribune.
TOTALLY supportive of a capitalistic economy, but I am against a free lunch which is what it seems, users of AirBnB - Home Away from Home seem to wish. What next Government to give them a tax incentive?
This comment prompts the obvious - if payment in full of Real Property Tax, would be a qualifier for the tax exemption - how many of the property owners could qualify? I am sort of long in tooth. In other words over 60 and I recall that rental property for years, required registration and the payment of annual fee at the Ministry of Tourism…So why change?
We have to be exceptionally careful! Are these properties all up to a reasonable standard? How many rooms are they renting, how many beds are they renting to the ratio of bathroom space?
Check one enterprising person off Village Road, they are renting the grass in front of their home, for a pop-tent for $20.00 plus per night. Are there sanitary facilities - I very much doubt the Property Covenants allow for this. Should we care? Of course, because just like operating a hotel, a negative incident the whole Bahamas Tourism is hurt.
How many of the current renters are paying, or charging VAT - (might be they charge and pocket it)?
Yes, this extremely positive service has saved many, who had very large mortgage payments coming out of 2008, and have been saved - but they need to consider the other side of he coin and pay something to the National Economy.
Free lunch no - a sensible tax base and required registration and inspection the minimum.
August 22, 2017