Sedona will pay residents to not use homes as Airbnb rentals

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.

The city council approved a $240,000 program earlier this week that would incentivize homeowners to lease out their homes to local workers because of a lack of affordable housing.

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.

https://www.fox10phoenix.com/news/sedona-will-pay-residents-to-not-use-homes-as-airbnb-rentals