Beyond the Welcome Mat: Governing the Age of Short-Term Rentals

Abstract This article explores the rise of short-term rentals (STRs) as a transformative force in urban housing and governance, with a particular focus on platforms like Airbnb. It examines how STRs, once presented as a form of collaborative consumption, have evolved into a global phenomenon reshaping the urban fabric, driving gentrification, and challenging traditional notions of property and community. By tracing the historical roots of home-sharing and unpacking its economic and social dynamics, the article highlights the tensions between platform capitalism and public regulation. It critically analyzes policy responses – from outright bans to performance-based standards – and considers their implications for housing affordability, neighborhood stability, and urban equity. Ultimately, it argues for a regulatory framework that moves beyond prohibition or laissez-faire approaches, aiming instead for transparency, accountability, and the integration of STRs into a balanced urban ecosystem.