eCommons

 

Can Short-Term Rental Arrangements Increase Home Values? A Case for AirBNB and Other Home Sharing Arrangements

Other Titles

Abstract

The sharing economy or “new economy”1 has redefined consumption in the housing context in a manner that impacts traditional notions regarding home values and neighborhood integrity. Housing sharing allows owners to share some of the benefits of property ownership – namely use and enjoyment2 – while shifting some of the burdens of ownership – particularly, the economic burdens. With the advent of the sharing economy, there is a brewing conflict between this new economy and the realities of economic regulation. Thus, in the housing context, we see this conflict playing out in the tension between growing patterns of home sharing and existing regulations that prohibit such sharing. Many state and local governments, relying on their inherent police powers, regulate short-term housing. In particular, certain land use legislation overtly prohibits occupation by short-term renters. One prominent justification for such prohibitions is the maintenance of property values and neighborhood character.

Journal / Series

Volume & Issue

Vol.13

Description

Sponsorship

Date Issued

2015-06-01

Publisher

Keywords

Cornell; real estate; rental; short-term; AirBNB; home sharing; sharing economy; new economy; home values; property ownership; economic regulation; regulation; short-term housing; land use regulation; housing prohibition; value preservation; short-term lease; lease; renewal; lodging; timeshare; inn; hotel; housing cooperative; affordability; housing scarcity; technology; restrictions; New York City; Supreme Court; zoning restrictions; full prohibition; geographically-based restrictions; quantitative restrictions; proximity restrictions; operational restrictions; licensing requirements; condemnation; inverse condemnation; regulatory takings; private property; constructive taking; occupancy; taxation; public safety; neighborhood character; Multiple Dwelling Law; permanent occupancy; Attorney General; Eric Schneiderman; commercial user; Arun Sundararajan; California; Carmel-by-the-Sea; hotel revenue; lodging industry; mortgage; burden of homeownership; blight mitigation; community character; property values

Location

Effective Date

Expiration Date

Sector

Employer

Union

Union Local

NAICS

Number of Workers

Committee Chair

Committee Co-Chair

Committee Member

Degree Discipline

Degree Name

Degree Level

Related Version

Related DOI

Related To

Related Part

Based on Related Item

Has Other Format(s)

Part of Related Item

Related To

Related Publication(s)

Link(s) to Related Publication(s)

References

Link(s) to Reference(s)

Previously Published As

Government Document

ISBN

ISMN

ISSN

Other Identifiers

Rights

Required Publisher Statement: © Cornell University. Reprinted with permission. All rights reserved.

Rights URI

Types

article

Accessibility Feature

Accessibility Hazard

Accessibility Summary

Link(s) to Catalog Record