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The morality of short term rentals
This is just a question I’ve been wondering as we deal with a huge housing crisis in our city.
is it moral to convert properties to short term rentals in a city with a deep housing crisis?
if a city has 500 units converted from long term to str, then the average occupancy is 70%, we have lost 54,000 nights of housing per year.
If vacancy is less than 1%, those 500 units of housing could be responsible for a significant amount of upward pressure on housing prices.
with the high cost of management for str, wouldn’t the world be better off with less of them?