This Arizona Town Is Paying Residents To Not Use Homes As AirBNB Rentals

By Ginny Reese

August 11, 2022

Photo: Getty Images

One city in Arizona is offering homeowners incentives to not rent their houses out as short-term vacation rentals. Fox 10 Phoenix reported that the city council in Sedona approved a $240,000 program to incentivize homeowners to lease their homes to local workers instead of websites like AirBNB.

This is due to a lack of affordable housing. Data from the city shows that only four percent of homes in the city are apartments, which is drastically lower than the state's average of 16 percent.

City officials explained, "People working in Sedona struggle to find housing due to skyrocketing real estate prices and vacation rentals dominating the rental market."

Nearly 15 percent of homes in Sedona are short-term rentals, which makes them unavailable and financially "unattainable" for workers living in the city.

The Rent Local program would give homeowners anywhere from $3,000 for a one-bedroom home to $10,000 for a three-bedroom home. In exchange, the homeowners would rent their homes out to local workers on a one-year lease or sublet to business on a two-year lease.

The program will begin accepting applications September 1st.

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