VRMA Administrator
Legal and regulatory hurdles for people offering their homes for short-term rental are upending the industry and helping reshape the market. Property owners in some cases are pushing back in court, arguing the regulations violate their constitutional rights. The new rules are being challenged by hosts across the country, including cases filed in Kansas City, Santa Fe, and Fort Worth. In the meantime, some cities that imposed tighter rules still remain below where they were before the pandemic, according to data from AirDNA, while hosts in cities with fewer regulations are exceeding pre-pandemic levels. Many hosts concerned about the risk of penalties or legal costs are turning away from short-term vacationers to focus on month-to-month rentals to avoid running afoul of rules.
Bloomberg (09/01/23) Teresa Xie
