The Future of Short-Term Rentals
By Larry & Laurie Weichman, A Tradition of Success
(Weichman Real Estate, A Trusted Name In Orange County Real Estate)
Over the past decade, short-term rentals have spiked in popularity among investors and travelers alike. It's believed that the industry will continue to grow in the coming years. Here are the latest trends and what the future is expected to bring.New RegulationsTo combat some of the challenges presented by unregulated short-term rentals, some cities have been introducing new regulations. New York, for example, recently passed a law that requires hosts to register with the city. Honolulu has outlawed rental stays under 90 days in residential areas. Other cities are curbing the number of rentals by capping the number of licenses they issue and/or imposing new taxes on vacation rental properties.The goal of most of these regulations is to strike a balance between supporting tourism and sup...
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