[Garcia]

Short-term rentals can be a real benefit to homeowners and the broader community by meeting lodging needs that traditional hotels often cannot. What began as a way for homeowners to earn modest income from an otherwise unused property, however, has evolved into a different market altogether. In many areas, investors now purchase desirable housing specifically to operate short-term rentals, driving up home prices and reducing the supply of long-term rental housing. As a result, communities are left trying to regulate an industry after it has already reshaped the housing market—putting towns in the difficult position of responding after the genie is out of the bottle.