NEWPORT, R.I. (WPRI) — State and local leaders in Rhode Island have been working to regulate short-term rentals, with some arguing that they’re contributing to the housing crisis .
But Mitchell Edwards, an attorney representing the Rhode Island Short-Term Rental Association , believes otherwise, saying they help fuel the economy while also supporting local homeowners.
“We believe that’s a fallacy,” he said of critics’ claims. “The vast majority of short-term rental owners are individuals. Some of them are single mothers who are trying to get extra money.”
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According to Edwards, there are about 200 homeowners in the association and about 20% of them own multiple properties for short-term renting. He said those rentals aren’t taking away from the local housing market. The issue, he said, is a lack of development.
“The reason why there’s a housing problem is because there hasn’t been enough production of houses,” Edwards said.