A Short-Term Vacation Rental (STVR) is most often defined as a rental of a residence (Single-Family/Multi-Family), a portion of a residence, or a detached bedroom/bathroom (Non-Junior/Accessory Dwelling Unit per State Law), for periods of less than one month (<30 days). STVRs are also commonly referred to as vacation rentals, transient rentals, short-term rentals and resort dwelling units.
Generally, there are two types of vacation rentals: “Hosted” (Home-Share) and “Non-hosted” (Whole-Home). A “Hosted” (Home-Share) is the rental of one or more guest rooms (Non-Junior/Accessory Dwelling Unit per State Law), where the property owner resides in the residence during the guest stay. This could also include the rental a detached guest room and bathroom (Non-Accessory Dwelling Unit) while the property owner is in the main residence for the duration of the stay. A “Non-hosted” conversely, is when a property owner typically rents out the entire residence to a guest and is located off-site from the premises for the duration of the stay. This rental arrangement would typical involve a property management company.