US: More than $400,000 [$432,600] has been raised for the Vacation Rental Management Association’s [VRMA] Advocacy Fund at the start of its 2022 advocacy fundraising campaign at the recent VRMA Spring Forum in Chicago.
Since its founding several years ago by VTrips president Steve Milo, the VRMA Advocacy Fund has produced economic impact studies, marketing campaigns and housing affordability studies, as well as lobbied for direct assistance to member alliances in need to advocate for fair regulations for short-term rentals in the United States. In 2021, the fund raised a record total of $420,000.
Inhabit IQ, a provider of software for the short-term rental industry, has been the single largest contributor to the fund in the last years, and its executive vice president and managing director, Kimberly Lang, pledged $60,000 to the fund, which Milo then matched.
Milo said: “If we are to defend our industry from misunderstanding and overreaching regulation, it is imperative that we have the financial means to do so.
“The reality is, the fight isn’t going away, and having the resources to support our members and the industry allows us to protect consumers’ right to rent throughout the country,” he added,
Toby Babich, a former president of the VRMA, said: “When we started [the Advocacy Fund] only a few years ago, I never imagined that we would grow at this pace, to nearly half a million dollars in support. It’s truly outstanding.”
In 2021, the VRMA began a marketing campaign to position professional managers as “taxpaying, local and consistent in their high standards” for the vacation rental industry. The campaign targets elected officials and government staff to highlight best practices and local community involvement.
This year, VRMA will expand on the campaign, in addition to developing advocacy resources for its members.
The fund has also committed to producing economic impact studies annually, such as what was recently done in Maryland and South Carolina.
Amounts raised for the VRMA Advocacy Fund at the 2022 VRMA Spring Forum:
$60,000: Inhabit IQ, VTrips
$20,000: Avalara, C2G Advisors, Dormakaba, Elliott Realty, RedSky Travel Insurance, TravelNet Solutions, VacayHome Connect
$10,000: AvantStay, BeHome247, DoneRight Management, Got2Go, Panhandle Getaways, PriceLabs, Scenic Stays, Silicon Travel, StoicLane, Weatherby Consulting
Donations made directly from attendees: $22,600