This article originally appeared in the California Lawyers Association’s “Real Property Law Journal.”

Like many other sectors in the “sharing economy,”[i] short-term rentals of residential property[ii] (“STRs”) have become a ubiquitous part of the national economy. Often labeled as one of the biggest disrupters in the travel industry, STRs are particularly impactful on the United States tourist sector, with one estimate putting the size of the domestic vacation rental market at $100 billion.[iii] The STR industry is young and, while not yet fully crystallized, flush with growing demand.[iv] The number of consumers utilizing STR options has burgeoned exponentially since 2011,[v] with a reported seven in ten millennial business travelers preferring to stay in local host rentals over more traditional lodging options.[vi]
Continue Reading Is the Popularity of Short-Term Rentals Sustainable, or Will Regulations Weaken Their Current Stronghold?