Short-Term Residential Rentals

This article argues in favor of short-term residential rentals as supporting home ownership by offering home owners income opportunities to offset mortgage and maintenance costs. The article looks at the various types of short-term residential rental restrictions enacted by local governments and examines typical justifications for prohibiting short-term residential rentals, including competition with the commercial lodging industry and protection of neighborhood character and property values, and uses New York City as a case study example. It supports the idea of appropriate regulatory controls and taxation models to allow homeowners and jurisdictions to capitalize on the benefits of these uses.