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Short-term rental (STR) describes furnished self-contained apartments or houses that are rented for short periods of time. [1] They are usually seen as an alternative to hotels . "Short stay" rentals are an offshoot of the corporate housing market, [ 2 ] and are also offered by private owners and investors via online platforms such as Airbnb .
Sonder Holdings Inc. manages short-term rentals, such as apartment hotels, in North America, Europe, and Dubai. [2] [3] It was founded in Montreal, Canada in 2014 and since 2016 has been based in San Francisco, California. [4] [5] Sonder manages over 9,000 units in over 40 cities in 10 countries and has served over 1 million guests. [6]
Rome: Short-term rental sites are required to withhold a 21% rental income tax. [21] Venice: Hosts must collect and remit tourist taxes. [22] [23] Vienna: Short-term rentals are banned in specific "residential zones" within the city, with the exemption of apartments used primarily for the host's own residential needs. [24]
A hostel is a form of low-cost, short-term shared sociable lodging where guests can rent a bed, usually a bunk bed in a dormitory sleeping 4–20 people, [1] with shared use of a lounge and usually a kitchen. [2] Rooms can be mixed or single-sex and have private or shared bathrooms. Private rooms may also be available.
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.
Short-term rental of all sorts of products (excluding real estate and holiday apartments) already represents an estimated €108 billion ($160 billion) annual market in Europe and is expected to grow further as the internet makes it easier to find specific items available for rent. [6]
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