# Residential holiday/vacation short-term rentals: is it an issue in your country?



## Suburbanist (Dec 25, 2009)

Last months I stumbled over a handful of news articles about major cities dealing with what they see as a growing problem: short-term rentals on residential properties, catered at tourists wanting a more "genuine" and "authentic" experience of living for one week, maybe two, at a major city like New York, Barcelona, London or Paris (To Address Its Housing Shortage, Paris Cracks Down on Pied-à-Terre Rentals).

The microeconomics of such rentals are simple: residential properties in heavily zoned cities will yield significant less money than any commercial use that, theoretically, could be made of them in "prime areas". High and perennial demand pushes hotel rates higher, compelling tourists to trade comfort or location (or both) for more reasonable prices. Therefore, when landlords start renting their properties for short-term stays, they are competing in prices with hotels and tourism budgets, not with people living on salaries in that area. It is obvious a modest-priced short-term rental residence will yield much more than any feasible long-term rent in the area, even when accounted for additional costs (vacation rentals' apartments ought to be in good condition, always, there are more cleaning costs, there is more non-revenue time (days without tourists staying there etc). If the share of residences in a given area grows significantly, it will make regular long-term rentals more costly.

A different scenario applies to vacation/holiday destinations, like those many beach cities with a small permanent populations and many empty buildings that booms on summer with tourists.

While the trend is not new, the Internet made this market boom: it is way easier to search for properties, use Google to search reviews of past renters and so. Now, some cities are worried about such market and are cracking down on this rentals.

So I have a question: is this an issue in major cities, which are also touristic destinations, in your country/region? What is the stance of governments on this issue?


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## ngfede (Jan 13, 2011)

It's a particular issue en Buenos Aires, in summer (from december to march) the city move to the beach in the south-east to cities like Mar del Plata, Pinamar, San Bernardo, Necochea, and others. Also, another alternative is going to Córdoba zone, where exists a small mountain chain with wonderful spaces at 6/7 hours in highway. 
The particularity of this city ,coastal city but with no beachs, with a port, and also, is located in the middle of one the biggest plains in the world -pampa zone-, so you have to move at least 600 kms. to leave this plain environment.

about prices in beach zone: it's obviously grow up too much, you can spend a monthly salary to rent a house 2 weeks.
To illustrate you, a city like Mar del Plata with 300.000 inhabitants transform in another one +1.000.000 in summer.

and, about residential to rent in the city, in Buenos Aires you can find this rooms/houses from 100-250 u$s month (its an average, depending the town you can find even cheapest or expensive places -northern town are expensive-).
There is like a boom in this city, there are beautiful and small houses even in the center of the city, and to the people is better to rent the house to tourist who pays in u$s and € than rent to local people and get pesos. So you can find a huge activity here.

about the beach it's happen in the same proportion in another cities? or only BA looks like a ghost town? (compared with winter o spring)


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## foadi (Feb 15, 2006)

i don't consider it an "issue". people should be able to do whatever they want with their property. the one year minimum rental restriction is absolutely absurd, whoever created such a law should be imprisoned. if that were enforced everywhere i wouldn't be able to rent at all, since due to my job the maximum amount of time i'll spend in a particular city is around three months.

sounds like something communists would do. trying to restrict peoples movements.


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## ngfede (Jan 13, 2011)

foadi said:


> i don't consider it an "issue". people should be able to do whatever they want with their property. the one year minimum rental restriction is absolutely absurd, whoever created such a law should be imprisoned. if that were enforced everywhere i wouldn't be able to rent at all, since due to my job the maximum amount of time i'll spend in a particular city is around three months.
> 
> sounds like something communists would do. trying to restrict peoples movements.


but,, if you do nothing all rich people of the world will have a house in Paris, it will be a "3months-city" for people from the world who want to live there only some days. And the people who want to normally live there? ITS a problem or can be a problem in the future if we think it in that way


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## ziesha (Feb 11, 2011)

Great one yeah !


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