This Arizona housing market Is 20% Airbnb rentals

Realtor Magazine

Airbnb short-term vacation rentals are taking over Sedona, Ariz., and residents are not pleased about it. In Sedona, 20% of the housing inventory is being offered on Airbnb.

Unlike recent moves by larger cities to limit Airbnbs, the state of Arizona has taken the opposite approach. It recently passed what’s known as “the Airbnb bill,” which was described as a way for homeowners to make extra money by renting out spare bedrooms in their homes.

Now, residents say the bill was too friendly toward short-term rentals and went too far by not capping the number of Airbnbs. Residents complain of investors swooping into neighborhoods and snatching up multiple homes that they can rent out to short-term renters. Residents argue that these vacation renters are driving up housing costs and changing neighborhood dynamics. An estimated 1,000 homes—or 20% of the city’s housing stock—is now being used as short-term vacation rentals, the Arizona Republic reports.

READ ON:

Share this!

Additional Articles

News Categories

Get Our Twice Weekly Newsletter!

* indicates required

Rose Law Group pc values “outrageous client service.” We pride ourselves on hyper-responsiveness to our clients’ needs and an extraordinary record of success in achieving our clients’ goals. We know we get results and our list of outstanding clients speaks to the quality of our work.

PRTA suspends operations

(Disclosure: Rose Law Group represents a coalition of property and business owners throughout Pinal County who have worked to bring new transportation infrastructure to the

Read More »