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The ordinance prohibits short-term rentals in residential zones and requires short-term rental owners to register their properties with the city. An aerial view of the city of Newport, Rhode Island.
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 .
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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.
Newport Beach is a coastal city of about 85,000 in southern Orange County, ... The homeowner vacancy rate was 1.7%; the rental vacancy rate was 7.8%. 50,511 people ...
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