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Research Shows Governments Could be Missing Out on Millions in Short-term Rental Fees

Jason Shueh
Airbnb Headquarters, third floor (Airbnb) With the rise of companies like Airbnb, VRBO, HomeAway and others short-term rentals now have a pervasive influence in cities; yet while this emerging market continues to grow, data shows local governments could be missing out on millions in uncollected revenue if they are unprepared to regulate the industry.Since Airbnb was founded in 2008, the short-term rental company has given birth to a market that has grown at a near exponential rate. In the space of just 10 years Airbnb alone has increased its annual revenues to more than $2.6 billion with more than five million listings in 81,000-plus cities worldwide…. Continue reading

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