The Ministry of Economic Development and Tourism issued a reminder that the new Vacation Rental Act 2018 is now in effect.
The Ministry is advising homeowners and proprietors of vacation rental units to review the Fact Sheet at https://www.gov.bm/articles/vacation-rentals-fact-sheet or questions can be sent to firstname.lastname@example.org or by calling the Ministry on 295-5151 ext 3457.
The Fact Sheet defines a Vacation Rental Unit as any place, land-based or not, which provides sleeping accommodation for fewer guests for which a charge is made.
The duration of any stay must not exceed a six month period to be considered a Vacation Rental Unit.
It also notes that to register a Vacation Rental Unit is free. Application forms are available at the Ministry of Economic Development and Tourism.
“If your property falls under Rent Control, please contact the Department of Consumer Affairs for an application form.
“The Bermuda Tourism Authority will provide support for vacation rentals, including “promoting vacation rentals as a category on the BTA website along with a guarantee that your property meets a certain standard”.
Residents should also know that it is a penalty for not registering.
“All Vacation Rental Units are required by law to be registered with the appropriate Minister.
“Any vacation rental owner who fails to register their property or remit the 4.5 percent vacation rental fee to the BTA is liable on conviction to pay a fine not exceeding $10,000 in accordance with section 15A(8) of the Vacation Rentals Act 2018.”