PROVINCETOWN – Provincetown has announced the launch of “Lease to Locals,” a pilot program incentivizing local homeowners to convert their short-term rentals or vacant housing units into year-round rentals.
Aimed at addressing the lack of year-round housing in the area by bridging the gap between short and long-term profit margins for property owners, the program will provide up to $20,000 in payments to participating homeowners who rent their units to Provincetown residents who work for Outer Cape businesses or serve the local community.
Qualifying properties must be located within Provincetown and must not have engaged in long-term rentals in the last year.
Properties must align with a sliding scale of unit pricing ranging from $1,000 per month for private rooms to $3,800 per month for properties containing 3 or more bedrooms.
The initiative is part of a larger effort by the town to tackle the regional housing crisis, which the town has allocated $348,500 to fight.
“We realize the construction of new units takes time, and people are losing and looking for housing now,” said Town Manager Alex Morse. “With that in mind, the Select Board and the Year-Round Market-Rate Rental Housing Trust have appropriated funds to launch this program to help qualified tenants immediately ahead of this summer season and beyond.”
Conditions apply. To learn more, click here.
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