PROVINCETOWN – After a successful pilot year, Provincetown has announced that it will continue the “Lease to Locals” program.
The program offers financial incentives to property owners who switch from short-term renting to year-round rentals for local residents, bridging the profit gap for homeowners while increasing the rental inventory.
Units are subject to maximum rental rates based on size, and second-year participant homeowners must keep their rental rates the same in year two.
“The positive impact of ‘Lease to Locals’ in its first year has been significant,” said Provincetown Town Manager Alex Morse. “We are excited to continue this momentum and encourage more property owners to participate, providing much-needed stable, year-round housing for members of our community.”
Last year, the program helped secure housing for 55 year-round residents in 33 properties, and Town officials have allocated $634,840 in new funds to build upon those numbers.
The new program year commences on April 1, and interested homeowners are encouraged to apply by clicking here.
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