Regulating The Vacation Home Market

NASSAU, BAHAMAS – Government is moving to introduce more oversight of the vacation rental market in the Bahamas, as Deputy Prime Minister And Minister Of Tourism Chester Cooper revealed the Cabinet will make a decision on taxation soon.

Giving an overview of business and investment opportunities on Exuma, Cooper says many vacation rentals are competing with hotels on the island, without having to pay as much in taxes as resorts. 

Back in 2017, The Bahamas signed a memorandum of understanding with vacation home rental company Airbnb, to introduce a taxation structure. 

Similarly, a registration drive was conducted in 2016, to give government more oversight over the short term rental industry. Cooper says this administration will go a step further. 

During the second quarter of 2021, 327-thousand 716 total room nights were racked up in the vacation rental sector, according to Airdna.  

Cooper explained that the government will move to regulate the growing industry throughout the country.