What are STRs (short-term rentals)?

STRs, or Short-Term Rentals, refer to properties that are rented out for short periods, typically less than 30 days at a time. These rentals are commonly found on platforms like Airbnb and Vrbo, and can include apartments, houses, or even just rooms within a property. STRs are popular among travelers seeking flexible and affordable accommodation options. Owners or managers of STRs are responsible for managing bookings, maintaining the property, and often complying with local regulations and taxes regarding short-term lodging. The growth of the STR market has prompted many cities to enact specific rules and licensing requirements.