The global revolt at Airbnb continued this week when Sedona introduced huge incentives for homeowners to stop listing their property on the short-term rental app.
In a unanimous decision, the Arizona city’s council voted to approve the Rent Local program, which will offer owners $10 thousand to rent their homes to residents instead of Airbnb or similar property sharing platforms. According to the council, 20% of Sedona’s housing is currently being used as a short-term rental, making affordable housing a massive problem for residents.
To be eligible for the payment, homeowners must commit to a one-year lease with a local resident and refrain from listing their property as a short-term rental for three years.
Airbnb has faced increasing opposition worldwide as more property owners opt to move away from traditional rentals. The platform is often blamed for increasing rent prices and fast-moving gentrification.