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City of Myrtle Beach Director of Public Information Mark Kruea said that every 1,000 short-term rentals turned into long-term ones equals a loss of $5.7 million in direct economic impact.
The City of Myrtle Beach paused converting short-term rentals near the ocean for long-term use, and a new report claims doing so the city costs millions.
In 2012, Tripping.com became a metasearch engine for vacation rentals. [5] On May 19, 2014, the company closed its Series A round in the $5 million to $10 million range. [6] On July 28, 2015, the company closed its round of Series B funding at US$16 million. [7]
The website soon became popular with homeowners that wanted to list their properties for short term rental. [2] [3] By 2006, VRBO had over 65,000 rental listings [4] and was adding 100 new listings per day. [3] VRBO originally had a subscription business model in which payment of an annual fee allowed homeowners to list their properties on the ...
Vacation rentals can also negatively affect local communities in a number of ways. While not the major cause of limited affordable housing, vacation rentals negatively affect the long-term housing market in local communities, especially tourism communities. As more short-term rentals increase, the availability of long-term units decreases.
Think of this creamy skillet casserole as a one-pan taco. The corn tortillas crisp up under the broiler, adding crunch to go with the creamy filling.
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