Belong Anywhere: The Rise (And Fall?) of Short-Term Rentals in Arizona
By Sean Krieg. If you’ve traveled in the last decade, you have likely considered staying in a short-term rental. Largely due to the success of peer-to-peer rental platforms like Airbnb and Vrbo—which digitally connect property owners with potential renters—short-term rentals now make up nearly a third of the U.S. lodging market. This rapid introduction of lodging into the “sharing economy” has given travelers more options, and owners the opportunity to turn properties into sources of revenue. The rise of short-term rentals has not only had a direct effect on travelers and property owners, but also on the communities where the rentals are found. Some evidence suggests Airbnb guests stay at a destination longer and spend more at local businesses than hotel guests. But this increased spending may come at a…