For years, many Americans have rented out their homes to make extra money. Now, lawmakers across the country are trying to curb the disruptive impact of the short-term rental.
In 2019, Las Vegas and and Washington, D.C. will put an end to whole-home rentals that have no owner present, (more than 70 percent of their current markets), and New Orleans already passed legislation moving these rentals out of historic downtown neighborhoods in January. Despite this, Realtor.com's new study finds the 10 most profitable markets for short-term rentals in the country. Most of the hottest markets are in the South, and on the coasts.
The motto of Silicon Valley may be to move fast and break things—but sooner or later the bureaucrats catch up. That’s the current reality for the short-term rental industry, now weathering an unprecedented storm of restrictive new regulations from city councils across the country.
Tensions between unregulated rentals and cities have been simmering for years, spurred by pissed-off neighbors and pushback from landlords and hotel operators. Now they're boiling over.
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