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About 30,000 of Hawaii’s 557,000 total housing units, or 5.5%, are short-term rentals, compared to cities like Las Vegas, where only 3% are short-term rentals, the report said.
SB 2919 also attempts to clarify a 1957 law adopted two years before Hawaii became a state that was used to successfully challenge Honolulu's efforts to clamp down on vacation rentals by ...
Hawaii's governor wants condos and homes normally rented to Maui tourists converted to long-term housing for displaced wildfire survivors.
Ground rent – Rent for the ground where a tenant can do property development; Lend-lease – WWII program to provide U.S. allies with free armaments; Rule against perpetuities – Legal rule prohibiting very long temporary interests in property
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.
The time use of a chattel or other so called "personal property" is covered under general contract law, but the term lease also nowadays extends to long term rental contracts of more expensive non-Real properties such as automobiles, boats, planes, office equipment and so forth. The distinction in that case is long term versus short term rentals.
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A rental agreement may provide for the renter or lessee to become the owner of the asset at the end of the rental period, usually at the renter's option on payment of a nominal fee. Such arrangements may be known as Rent-to-own, a term used in the United States for rental of furniture or appliances. The term is also used in the US for real ...
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