From neighbourhood to “globalhood”? Three propositions on the rapid rise of short-term rentals

Abstract

This Commentary is an attempt to understand the recent, rapid rise of short-term property rentals in some of the world's most popular neighbourhoods, and what it means for communities, whether urban or rural. The literature to date has tackled the issue from a number of different perspectives, but there is no clear consensus on what the key issues are within this sector of the so-called “sharing economy.” Despite claims to the contrary, I argue that there is something new about this phenomenon, in relation to its growth, intensity and spatial concentration. I also argue that it represents a kind of double disruption, and that home sharing can usefully be conceptualised as neighbourhood sharing if we want to arrive at a better understanding of local reactions to it, and how we might best respond to it from a regulatory point of view.