May 12, 2016
Turning homes and apartments into vacation rentals is wildly popular. But, despite a folksy label of “house sharing,” short-term rentals (STRs) are a $25 billion global industry. From Barcelona to Amsterdam, from San Francisco to New Orleans, there was initial giddiness over a perceived “win” for everyone. Property owners earn extra income; tourists get a neighborhood experience; and cities collect new revenue. What could go wrong? Plenty. Cities world over are racing to stop the unintended consequences of STRs….