business

Peoria City Council to consider new ordinance regarding short-term rentals

Peoria City Council will consider adopting a new ordinance regarding short-term rentals, Oct. 11.

This type of rental — a property rented-out by the owner for 29-days or less — has seen a meteoric rise in recent years and become a $15 billion industry in the United States with an estimated $350 million raised in Arizona tax revenue in 2020.

Such has been the case in Peoria where there are around 550 homes/rooms up for short-term rent throughout the city.

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