I wonder why the realtors, who probably benefit from Airbnb, in the form of investment properties being purchased by locals and foreigners alike, are going to bat for the hotel industry, which is the one of the highest priced, lowest value industries in the Caribbean. With regards to the government collecting room taxes for these rentals, all for that. But, once again, not the real estate associations bailiwick.

I think it is these bragadocious realtors that can't wait to toot their latest real estate sale and think that they can ride along on the success or Airbnb as if they had something to do with it. If they didn't coem with that story they probably would have no story. This idiot Carey needs his head examined about tax the business. Airbnb has given Bahamians of all stripes and economic circumstance an opportunity to participate financially in the country's number one industry. Without asking for one single concession from the government. No crown land, no duty and stamp tax free anything. And there are thousands of them doing this. All of these Hosts and Guests pay all the taxes that are relevant. They pay duty and vat on whatever they consume, Furthermore the little taxi guys and small rental car concerns are also making a buck. Even bicycle rentals. When we realise that this business is booming and the hotels not so much we should think how the government and its numerous and monumental taxes and tarrifs have brought this business to its knees. Not to mention the enormous cost of electrcity. Leave these Bahamian Enterpreneurs alone please.

The issue is that the government failed to consult with the Bahamian real estate brokerages that specialize in vacation rentals prior to repealing the 10% hotel tax. The government failed to grasp the fact that foreign homeowners could not obtain a business license (they are foreign), could not obtain an N.I.B. employer number (because they are foreign) etc. etc. and therefore, when V.A.T. was implemented the second homeowners could not register for V.A.T. now the government (after years) has somewhat rectified the situation but it is too late... It is a catch me if you can attitude. Most rental homes do not generate over $100,000 in gross annual income and therefore are not obligated to register for V.A.T. and those that do choose to rent their houses with offshore brokerages and rental companies; which means The Bahamas does not collect one red cent of tax (really how is the government proposing to "police" this?) In last weeks Tribune the government admitted to losing over 85 million dollars with the repeal of the hotel tax. At least with the hotel tax every single rental was taxed and not just those houses that make over $100,000 in income. @ alfalfa believe me the realtors make nothing from Airbnb, V.R.B.O., etc. they are direct competition to law abiding Bahamian brokerages who pay their V.A.T. and undercut Bahamians every chance they get (because they are not obligated to pay V.A.T.). The government has allowed this to become the wild west and is losing MILLIONS of dollars (by their own admission) in revenue.

What a minute?! Tax vacation rental owners? Are you people nuts?!?
Do property owners not already pay property tax? Well most of them anyway. Don't hotels get concessions, such as tax breaks, no real property tax, duty free concessions, etc etc.
Ok fine, charge vacation rental owners a room tax, and give them full refunds on all property taxes paid to date, allow them to import whatever they need duty free to fit out and furnish their homes.

Oh and lest we forget, the guests in these vacation rentals are buying groceries and liquor from local businesses, either renting a car or using local taxis and buses to get around, eating at non hotel owned restaurants etc etc. How many hotel guests do you think do that?!?

Get your heads out of you behinds please Mr. Carey and Capron.

So, Blander, none of the properties being sold by the Bahamas Real Estate Association, on which they earn a 6% commission, are listed on Airbnb? I know they make nothing directly from Airbnb, but the possibility of properties being used for rental income (via Airbnb), has had to have positively impacted the real estate business. Last years figures were up, and as reported in the press this years year-to-date figures are up as well. The rest of the world is managing this phenomenon, so why can't we?

This Carey guy would rather 2 or 3 **foreign owned** hotels get all the tourist dollars rather than support thousands of Bahamians who are renting out their apartments, bedrooms and even couches just to make ends meet? What the hell?

Foreign white homeowners have been doing this illicit "vacation rentals" business for decades in the Out Islands ......... hell, they even rent out cays for weeks to their friends, family and lovers (like the PLP politicians)

It brings up an interesting question. The monies never comes into the country. They advertise in their home town papers, take payment in their hometown. The rental people arrive, and the Bahamian maid is there to give them a key. At the end of the stay, they leave the key for the maid. She cleans up, and gets it ready for the next "guests". That sort of commerce is not taxable since no money ever comes into the country. For all anyone knows, they have friends staying at their vacation home.

MonkeeDoo is on to something here.
Airbnb is a great income opportunity for all Bahamians.
To restrict the compeition is not good for the economy.
Innovation is key to economic growth.

Look, you are all forgetting that hotels get an immense amount of tax concessions. Many go belly up after a few years, so the governments up with almost no tax at all. Most vacation rental homes change hands every 10 years or so. that's lawyers, painters, bankers, real estate agent who are all making income on the sale every 10 years. And the government makes 10% tax every time it sells. 10% on the sale of the home is much more than a piddly couple of dollars in tax on a weeks rental. This is one area of the Bahamas economy which everyone seems to have an opinion and yet not a single person has any understanding of the topic. If a hotel is failing using the second home owner rental as a scapegoat is cheap and petty. Maybe the hotel should take a look inward and evaluate why the business is failing. perhaps trying to charge 5 star rates on a 2 star hotel without hot water or reliable fast internet is the problem. Not to mention the terrible customer service skills. and I blame the unions.

If it wasn't for the second-home vacation rental market the tourism economies of Eleuthera and SW would have collapsed years ago. There's no viable hotel properties on Eleuthera and hasn't been for years! Most of those homeowners make a small profit after expenses on their vacation rentals each year that allow them to recoup the expense of building or buying. There are a few that do make some very large profits annually but most not. Granted the rental income doesn't come directly into the country but eventually alot of it does through the homeowner paying utilities,maids,caretakers,plumbers,gardeners,electricians etc., as well as paying property tax. And don't forget the renters do spend money in the country by renting cars, groceries in local food stores,liquor in local liquor stores, going to clubs,bars,restuarants.