Short-term rental (STR) describes furnished self-containedapartments or houses that are rented for short periods of time.[1] They are usually seen as an alternative tohotels. "Short stay" rentals are an offshoot of thecorporate housing market,[2] and are also offered by private owners and investors via online platforms such asAirbnb.[1]
Popular uses includevacation rental[2] and relocation.[3]
This industry is seen as the most affordable option for month-long stays. They might be 25–50% cheaper than a hotel room, and the apartments typically offer additional amenities such as kitchen/kitchenettes, washer and dryer. Some companies permit pets. Booking procedures may include credit checks, damage and holding deposits, and departure cleaning fees.[2] Rentals from online platforms such as Airbnb are a common form of access to these rentals.[1] Contact with the landlord or agent is recommended, as online photographs and descriptions can be misleading.[4]
The proliferation of short-term rentals can affect those in the area who are looking for long-term rentals.[5] Through short-term rental, landlords can make upwards of 30% more than they would on a rent controlled property.[citation needed] Thus landlords convert their properties into short-term rental units, and there are fewer long-term housing options available to permanent residents. Landlords also sometimes pressure and coerce people out of their homes, particularly if residents are of low-income.[6] In Australia, short-term rentals have contributed to the rental crisis occurring in 2022, although STRs diminished during the 2019-2022COVID-19 pandemic.[1]
Neighborhood community groups have voiced concern that these temporary residents do not have a stake in the community and therefore are less likely to be conscientious about how their behavior effects those around them.[6]
Short-term rental properties place the responsibility of following zoning and municipal requirements onto residents using short-term rental services likeAirbnb. This leads to illegal short-term rentals that violate many of these codes.Fire codes, safety codes, workers' benefits, and transient occupancy taxes are often avoided by illegal short-term rentals.[6]
Short-term rentals can pose a policy challenge to local lawmakers, who have to find a way to mitigate the problems that they cause for permanent residents. For example, inSanta Cruz, California, localsupervisors have discussed parking restrictions in the areas where there are many short-term rentals, in order to discourage people from staying there, and prioritize the local residents' ability to park.[7] Some governments have taken measures to combat the rise in short-term rentals—for example, as of 2019,London short-term rentals were restricted to 90 days.[8]
