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Both short-term and long-term rental owners are required to obtain a business license, but those renting residential property to the same person for less than 90 days must pay 10% state and local ...
North Carolina’s most expensive Airbnb rental costs more than $22,000 a night, earning the home 17th place out of the 20 most expensive Airbnb in USA.
Lyndsey Gibson has long enjoyed taking family vacations at Ocean Isle in North Carolina. The hotspot has been a favorite of her husband’s family for more than 50 years.
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.
In 2021, Rentberry started offering a Flexible Living concept that allows people to rent a fully furnished apartment or other real estates in a city of their choice for a short term, from 3 months to a year. [20] [21] In 2022 Rentberry raised capital through a Regulation A offering on the equity crowdfunding platform StartEngine.
The proliferation of short-term rentals can affect those in the area who are looking for long-term rentals. [5] Through short-term rental, landlords can make upwards of 30% more than they would on a rent controlled property. [citation needed] Thus landlords convert their properties into short-term rental units
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