Sedona will pay residents to not use homes as Airbnb rentals
SEDONA, Ariz. – The city of Sedona is offering an incentive for homeowners to not use their houses as Airbnb rentals.
According to data from the city, only 4% of total dwelling units in the city are apartments – drastically below the 16% average in the state.
“People working in Sedona struggle to find housing due to skyrocketing real estate prices and vacation rentals dominating the rental market,” city officials said.
Nearly 15% of residences in Sedona are short-term rentals, making them unavailable and financially “unattainable” for working residents.
The Rent Local program would pay homeowners anywhere from $3,000 for a single bedroom to up to $10,000 for a three-bedroom home.
In exchange, the homeowner would convert their vacation rental into a long-term rental. They would rent out to a local worker on a one-year lease or sublet to a local business on a two-year lease.
The program is expected to start accepting applications on Sept. 1.