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One US city in Arizona is embarking on a bold initiative to improve its housing options for locals.
The council-approved “rent local” program will provide Airbnb hosts in Sedona up to $US10,000 ($14,511) to remove their short-term listings from the vacation rental company.
A city in Arizona will pay Airbnb hosts to rent their properties to locals.Credit:Nine.com.au
The move is not to discourage travel to the area, but rather to improve housing options for locals amid rent increases and the general uncertainty of the real estate market.
Airbnb hosts renting out properties such as a single room in a shared house will receive $US3000, and $US10,000 will be given to those renting out three-bedroom properties.
Arizona’s city council will pay $US6000 to Airbnb hosts for a studio apartment.
The properties will be rented out to locals instead of tourists for at least a year.
There are certain requirements for renters, including having to work for an employer in Sedona for a minimum of 30 days and 30 hours per week.
Retirees and the disabled will also be included in the initiative.
Arizona has experienced a surge in domestic migration, according to the New York Times, welcoming 93,000 new residents in 2021.
Sedona is a desert town with day spas, galleries, boutiques and naturally rugged beauty which includes canyons. Local media has reported that there is not enough rental accommodation so that tourism industry workers can reside in the town.
NBC 12News reported that 15 per cent of Sedona’s homes are holiday lets which are priced at a rate that is unaffordable for locals.
This story was first published on Nine.com.au.
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