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Factors Residential Homeowners and Real Estate Investors Should Consider When Leasing in Shared Economies

By Christina Jenkins and D. Joshua Crowfoot

Travelers and homeowners everywhere have enjoyed the options and opportunities of shared economy leasing. A “sharing economy” is economic activity that involves individuals buying or selling usually temporary access to goods or services, especially as arranged through an online company or organization such as Airbnb, HomeAway, TripAdvisor, VRBO, and Stay Alfred. Although shared economy companies came onto the scene over a decade ago, it has taken that long for state and local jurisdictions to determine the best way to curb the unintended consequences of shared economy arrangements. As the industry evolves, so do industry players that weren’t previously contemplated, leaving state and local governments perpetually behind the curve.

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