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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 .
The Los Angeles City Attorney's Office filed a lawsuit this week against Blueground, a short-term rental company that advertises properties. LA lawmakers threaten landlords with fines as high as ...
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.
Short-term rental of all sorts of products (excluding real estate and holiday apartments) already represents an estimated €108 billion ($160 billion) annual market in Europe and is expected to grow further as the internet makes it easier to find specific items available for rent. [6]
While conventional apartments are more cost-effective with better amenities, tenants unable to pay first and last month's rent or undesirable due to unemployment, criminal records or credit problems do seek low-end residential motels because of a lack of viable short-term options. [68]
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