Vacation Rental On The Rise
Tourists are renting more and more houses for leisure purposes, competing strongly with the traditional hotel industry.
Tuesday, November 9, 2010
Vacation rental is defined as the renting of villas, houses, apartments or country estates for a few days or weeks, and is growing fast around the world. Central America is no exception to this phenomenon, which suits especially families or small groups.
The trend of renting out non-hotel accommodation for a few days is global, and it will grow even more in the next 5 years, so regulating it will be a better solution than banning it.
Already more than 1000 homes are available to rent through the web platform Airbnb, and most of them are centered around the Pacific coast.
Hotel owners are complaining of unfair competition from apartment owners who rent their properties for tourism at low prices.
A draft anti tax avoidance law to be discussed by the Assembly in Costa Rica clarifies the obligation to pay sales tax on homes rented out for less than a month.
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