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. State and local governments that were not prepared for the short-term rental market as it exists today, have started to play catch up with many adopting regulations designed to “rein in” short-term rentals and address their perceived impacts on residential neighborhoods.
Whatever the justification, state and local government regulation of short-term rentals is having a significant impact on property owners’ right to rent out their properties on a short-term basis. As the voice of real estate, the National Association of REALTORS® is committed to protecting private property rights. 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 Adriann Murawski at 202-83-1068.
The opinions expressed in this report 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.