City officials in Sedona, Arizona, approved a program this week that will offer local property owners thousands of dollars to rent units to local residents instead of using them as short-term rentals through companies like Airbnb.
Under the program, if homeowners provide a lease of one year or longer to Sedona residents, they are eligible to receive between $3,000 and $10,000 per year, depending on the size of the rental property, according to Shannon Boone, the City of Sedona’s housing…