Short Term Rentals and Neighborhood Harmony

As the popularity of STR’s (Short Term Rentals) continues to increase, homeowners that have extra rooms or do not occupy their home full-time are wondering if this may be an untapped source of income. Airbnb, VRBO, Turnkey, Oasis and others have answered that question with a YES in bold letters.  Their growth has been impressive. While these provide  a good revenue stream and provide an alternative to hotels, some neighbors worry about the inevitable change that comes with constantly changing short term tenants that do not have an investment in the community. Is there a balance that can be achieved that maintains the character of a neighborhood where families feel comfortable yet allows owners to use their property as they see fit?  The short term rental dimension of a community may also factor into a real estate purchase. Is there a balance?  Continue reading.

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