FTC Letter- VRMA Press Release Response

FOR IMMEDIATE RELEASE
 
Contact:
Greg Holcomb
202-367-2404
gholcomb@vrma.com
 
VRMA Responds to Request for FTC Investigation into Short-Term Rentals
 
WASHINGTON, D.C. – July 18, 2016 – The Vacation Rental Managers Association (VRMA) calls upon Senators Brian Schatz (D-Hawaii), Dianne Feinstein (D-Calif.) and Elizabeth Warren (D-Mass.) to revise the letter sent to the Federal Trade Commission last week requesting an investigation into short-term vacation rentals.
 
This letter in current form incorrectly casts all short-term rental operators in a negative light and does not in any way acknowledge the value that professionally managed short-term rentals bring to the economies in the home states of each senator. Nationally, professionally managed vacation homes account for $23 billion in bookings, constituting 7% of the U.S. travel market. 
 
“VRMA has been an association for 31 years, with some of our members operating as short-term rental management companies for more than 60 years,” said VRMA President Ben Edwards, who also serves as vice president of business development at Newman-Dailey Resort Properties, Inc. “Our industry far predates the sharing economy and does nothing to abuse this new technology and the access it provides to the consumer.”
 
VRMA applauds the request for investigation into players who operate outside the law and hurt the economy by abusing established distribution channels. However, members of VRMA, and the vacation rental management industry as a whole, operate above board, adhering to all state and local regulations and properly collecting and remitting taxes.
 
“These professionally managed, law-abiding, value-creating, consumer-protecting and property-rights-granting economic contributors should not be included in this language, or in any subsequent investigation or report,” said Edwards. “We ask that the language of this letter, and the intent of this investigation, be revised to focus on the true problem – not the short-term rental industry as a whole.”
 
Individuals interested in learning more about the value of short-term vacation rentals should contact Greg Holcomb, VRMA government relations manager, at 202-367-2404.
 
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Founded in 1985, the Vacation Rental Managers Association (VRMA) is a professional trade association that represents the vacation rental property management and hospitality industries. Headquartered in the United States, membership includes professional vacation rental managers and industry suppliers in countries throughout the world. VRMA provides education and networking opportunities, promotes the value of the vacation rental experience and drives industry growth and professionalism.
For more information, visit vrma.com, call 202-367-1179 or email vrma@vrma.com.