21 May 2019
National Travel and Tourism Week is a Time to Protect our Small Businesses
36 years ago, Congress passed a resolution that established National Travel and Tourism Week – a time when we can celebrate tourism’s contributions to the economy and local businesses. Margaret Rudd & Associates, Inc., REALTORS is one of the many companies that benefit from tourism and contribute to the economic health of our community.
Established in 1981, Margaret Rudd & Associates, Inc., REALTORS offers a full range of real estate services including sales, property management, vacation rentals, development, land sales, commercial properties, relocation services and long term rentals. We are a second-generation, family-run business and the most respected full-service vacation rental property management firm on Oak Island. We know all too well the contributions that this industry provides the local areas.
In 49 states and Washington, D.C., tourism is one of the top-10 employers, and one out of every nine Americans have employment that depends on a healthy travel industry. Vacation rental management companies like Margaret Rudd hire many people throughout the community, including local contractors to maintain, landscape, and clean the properties we manage. This brings in more tax revenue and helps local business thrive.
Unfortunately, in many communities, vacation rental businesses are under attack as local governments try to severely restrict, punish, or ban altogether our businesses.
This is unfortunate, because vacation rentals managed by professional property managers add significant value to the community by expanding the tax base and attracting direct and indirect spending in our area. Homeowners pay local property taxes, helping to fund essential services. Studies have shown that vacation rental guests stay longer and spend more in the community than other lodging options. This means more taxes and a healthier economy.
The short term rental market is a $36 billion industry and one of the fastest-growing markets for many travelers. We need reasonable regulations that respect homeowners’ property rights, give travelers the freedom to choose the accommodation that best meets their needs, protect the ability of property owners to rent out their residences, and provide a set of easy-to-follow rules for owners, property managers, and guests.
Margaret Rudd & Associates, Inc., REALTORS is a proud member of the Vacation Rental Management Association, an association of professional vacation rental managers who hold themselves to a higher standard with a focus on increased education and professionalism. We set the bar high, continually elevating the industry, and articulating best practices for others to follow. As we celebrate National Travel and Tourism week, it is important to remember the role that tourism plays in our local economy and the need to protect the small businesses that provide these important services.