Breaking NewsGlobeSt.com will be offline for scheduled maintenance Saturday May 8 3 AM US EST to 12 PM EST. We apologize for the inconvenience.

 
X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Rob Stephens Rob Stephens

The short-term rental market has been controversial to say the least—but with proper regulation, short-term rentals can have big economic benefits for cities, according to Rob Stephens, co-founder of Avalara MyLodgeTax. Stephens says that because of these benefits, cities should embrace the short-term rental market, especially in places like San Diego, where there is huge demand for short-term rentals through sites like Airbnb.

“There are significant economic benefits from tourism and short-term rentals. There is the direct benefit of occupancy tax to the city, but more significantly travelers spend significant dollars on restaurants, shops, amusements and more,” Stephens tells GlobeSt.com. “Tourism is a great contributor to the local economy and short-term rentals provide lodging options to help drive demand.”

Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

More from this author

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.