Peering into the Peer Economy: Short-Term Rental Regulation
Zoning Practice — October 2015
By Dwight Merriam, FAICP
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Are short-term rentals good or bad for your community? Like so many things, it depends.
Short-term rentals (STRs) increase the stock of furnished, short-term accommodations. Because many of the rentals involve renting a room in a permanently occupied dwelling, they are often less expensive than commercial lodging. The benefit for home owners or long-term tenants who host STR guests is additional income, which can help offset mortgage or rent payments. However, some contend that STRs may exacerbate the shortage of lower cost rentals because landlords, attracted by the higher revenue stream from STRs, are taking apartments out of long-term rentals.
This issue of Zoning Practice explains the connection of short-term rental regulation to the larger sharing economy and offers key considerations for new approaches to licensing and zoning for home sharing. It highlights the importance of addressing permissible activities, rental management, and limits on use.
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About the Author
Dwight Merriam, FAICP