“The world’s first recorded vacation home was the Palais de Versailles in France, built originally to serve as a hunting lodge for Louis XIII in 1624, according to Rentals United.
Nearly 400 years later, the international vacation-rental industry was worth an estimated $85 billion as of 2015, again according to Rentals United, a channel-managing service for rental-home owners around the world—and that number has surely risen in the years since.
Here in the Coachella Valley, vacation rentals are indeed big business—and, according to some neighbors of short-term rentals, a big hassle. As a result, short-term rentals—aka STRs—have become a focal point of debate and dispute between rental-property owners, neighboring residents and city governments…”

[Read the full article]