Last year we posted about property owners in Miami Beach, FL facing huge fines resulting from tenants illegally listing their units on short-term rental site Airbnb. Fast forward to now and CNBC is revisiting the issue with an exclusive investigative report about the clash between short-term rentals and Miami Beach. They rode along with late-night code enforcers (who’ve issue pretty hefty fines, as we’ve seen) and interviewed stunned guests & defensive property owners as well as some local officials who say they’re worried about the commercialization of their residential communities. While there is understandable tension resulting from the growing pains of this emerging industry, there is also a lot of hyperbole and misinformation being used as justification for legal action. If you’re investor with short-term rentals, this 14-munite video is a must-watch.
Airbnb: Unwelcome guests from CNBC.
Click here to view the story on CNBC.com.