Single home rentals benefiting Palm Springs economy

As one of the fastest growing tourism industries, single-home vacation rentals are quickly becoming a popular choice for people visiting the Coachella Valley.

While short-term rentals are the latest trend in Palm Springs, Kelly McLean and her family are no strangers to the industry.

“We started 30 years ago and my parents they actually started with condos for the retirees. People that were coming out January, February and March staying at the same condo year after year,” McLean said.

With the help of sites like Airbnb and VRBO, short-term home rentals are becoming a more popular option.

“People are coming with their families, with their extended families, couples, groups of people that can rent for example a three-bedroom home. Six people can stay here comfortably or maybe it’s two or four people. And they get their own private pool, their own space, their own kitchen, so it’s not something that’s unattainable. It’s actually affordable,” McLean said.

We’re entering the beginning of the summer months which means home rentals are becoming more affordable. A home like this rents for around $325 a night.

Home owners interested in renting out their home must register with the city and begin paying transient occupancy taxes.

“These short-term occupancies really does benefit our local economy. Our Transient Occupancy Tax goes into the general fund, parks and police and the roads,” McLean said.

For people who might be living in their home only six months out of the year, renting out their home is a way to make some extra money.

“There’s a lot of interest from people who want to find out more and I think they should reach out and talk to that dialog, like what would it mean if I rent my home out? What should I think about,” Brian Vatcher with Brighthaus Marketing said.

While rentals will never replace the hotel experience, more travelers are enjoying the option.