With the rise of Airbnb, short-term rentals have become a concern for neighbors, who worry about how their property values will be affected. The rental sharing economy has changed the vacation home market, which may have put additional pressure on availability and affordability of tourist communities write Ilyce Glink and Samuel J. Tamkin for the Washington Post.
According to the January issue of Realtor Magazine, the effects that short-term rentals have on the neighbors are negative if the neighbor is renting what’s known as a “party house,” but positive if a property can advertise “rentable areas,” such as an in-law unit or coach house with its own entrance.
In areas where short-term rentals are accepted or encouraged, and neighbors aren’t hostile to it, a home with “rentable” features might sell for more money, according to some Realtors. And in some areas, said Craig Kalkut, vice president of government affairs at the American Hotel and Lodging Association, there’s evidence that vacation-home sales are going up because these sorts of platforms have become an accepted way to book a vacation.