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Vacation rentals can also negatively affect local communities in a number of ways. While not the major cause of limited affordable housing, vacation rentals negatively affect the long-term housing market in local communities, especially tourism communities. As more short-term rentals increase, the availability of long-term units decreases.
Cambridge is a city in the Regional Municipality of Waterloo, Ontario, Canada, located at the confluence of the Grand and Speed rivers. The city had a population of 138,479 as of the 2021 census. [1] Along with Kitchener and Waterloo, Cambridge is one of the three core cities of Canada's tenth-largest metropolitan area.
The Regional Municipality of Waterloo (Waterloo Region or Region of Waterloo) is a metropolitan area of Southern Ontario, Canada. It contains the cities of Cambridge, Kitchener and Waterloo (KWC or Tri-Cities), and the townships of North Dumfries, Wellesley, Wilmot and Woolwich. Kitchener, the largest city, is the seat of government.
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Short-term rental (STR) describes furnished self-contained apartments or houses that are rented for short periods of time. [1] They are usually seen as an alternative to hotels . "Short stay" rentals are an offshoot of the corporate housing market, [ 2 ] and are also offered by private owners and investors via online platforms such as Airbnb .
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