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16th of July 2018

Economy



Ministry: Vacation Rental Act Commences

The Ministry of Economic Development and Tourism today [July 2] announced the commencement of the Vacation Rental Act 2018, which requires vacation rental owner to register their property and pay a 4.5% vacation rental fee.

The Ministry is advising homeowners and proprietors of vacation rental units to review the Fact Sheet here on the Government website, and notes that questions can be sent to med@gov.bm or 295-5151 ext. 3457.

The Fact Sheet notes that all Vacation Rental Units are required by law to be registered, and any vacation rental owner who fails to register their property or remit the 4.5% vacation rental fee to the BTA is liable on conviction to pay a fine.

The Vacation Rentals Fact Sheet as on the Government’s website:

1. What is a Vacation Rental Unit?

A Vacation Rental Unit means any place, land-based or not, which provides sleeping accommodation for nine or fewer guests for which a charge is made. The duration of a stay must not exceed a 6 month period to be considered a Vacation Rental Unit.

2. How do I apply for a Vacation Rental Certificate?

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.

3. Does it cost money to register?

No. It is free to register a Vacation Rental Unit.

4. What are the benefits of registering my property?

The Bermuda Tourism Authority will provide general promotional support for vacation rentals. This includes promoting vacation rentals as a category on the BTA website along with a guarantee that your property meets a certain standard..

5. Is there a penalty for not registering?

Yes. 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% 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.

6. Where can I find more information?

You can find more information on the Vacation Rentals Act by calling [441] 295-5151 Ext. 3457 or by emailing med@gov.bm.

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