AirBnB: Good or Bad For A Community?

Today more then ever before, people are concerned about the impact that AirBnB is having on the community and the housing market. As in all matters, there are two sides to this controversy. For folks who own homes that they don’t always use, or who may have additional living space, being able to rent it for them is income they may not have an opportunity to earn elsewhere. The challenge for the community at large is, as this happens with more frequency, there becomes a shortage of long term rentals for folks who are not in a position to buy their first home. At this point, the laws of supply & demand come into play, by driving up the cost of yearly rentals as they become more scarce. On the other side and on a positive note, AirBnB bringing new people to a community generally results in being an advantage to the rest of the community as these folks need to spend money while visiting and discovering the area, thus helping local business owners. They may also consider moving in permanently. Perhaps the solution resides in a compromise on both sides. By allowing homeowners the opportunity to rent with some restrictions in place, perhaps we can come together to enjoy the over all benefits.