Share on StockTwits

The Portland City Council voted Wednesday to legalize short-term rentals in single-family homes, giving added legitimacy to rental websites such as Airbnb. Mayor Charlie Hales and the city commissioners said they want Portland to be active in the “sharing economy.” Commissioner Steve Novick said, “I have concerns about having unregulated, untaxed competitors of a regulated, taxed industry operating in the city, which has been happening.” Airbnb, the popular online company based in San Francisco, agreed to collect lodging taxes and has been doing so since July 1st.

“Portland OKs Airbnb-type Short-term Rentals” is categorized as “business”. This video was licensed from Grab Networks. For additional video content, click the “video” tab at the top of this page.

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.