In recent years, vacation rentals and other short-term rentals have become incredibly popular. Homeowners can gain some extra income and travelers can enjoy relatively inexpensive accommodations. The most prominent short-term rental business is, of course, Airbnb. Other short-term rental businesses include RBO, Homeaway, and Housetrip. They all operate similarly by connecting hosts and guests online and giving them a platform to make a short-term rental agreement.
While this new home-sharing marketplace certainly has its benefits, there are also a number of issues that can arise when a homeowner or tenant decides to start renting out a property on a short-term basis. Homeowners should be aware of the laws and regulations governing short-term rentals. Landlords should also carefully monitor tenants to make sure they are abiding by those rules.
Click here to read the full article in the New York Law Journal
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