In the past decade, the popularity of short-term rentals has grown at a rate that has far outpaced governmental regulation. This surge in growth is largely attributable to the popularity of online hosting platforms, such as AirBnB and HomeAway. Some state and local governments have started adopting regulations designed to “rein in” short-term rentals and address their perceived impacts on residential neighborhoods. This regulation is having a significant impact on property owners’ right to rent out their properties on a short-term basis. State and local REALTOR® associations, while respecting community concerns, are well positioned to monitor state and local regulatory activity and to take action to protect private property rights.
For more information on short-term rentals and other state and local issues, visit the Land Use Memo Database.
Questions? Contact Hugh Morris at 202-383-1278.
The opinions expressed in these reports are those of the authors and do not necessarily represent the opinions or policy of the National Association of REALTORS®, its members or affiliate organizations.