A well-managed vacation rental:
Daytona Beach thrives on tourism. While many tourists want hotel accommodations, others prefer vacation rentals. Daytona Beach needs to appeal to BOTH market segments. Adding more vacation rental accommodations does not detract from hotel stays, it expands Daytona's tourism market. Studies show that vacation rental visitors typically stay longer than hotel visitors. The longer the stay, the greater the spend in local businesses (shopping, restaurants, grocery stores, entertainment, etc.)
A vacation rental stay is subject to the same taxes as a hotel stay. These taxes include local sales and use tax (benefitting the city and state) and tourist development tax (benefitting the county). None of these taxes are applied to long term rentals, so vacation rentals are an important source of additional tax revenue. Additionally, many vacation rental homes do not receive a homestead exemption, generating additional property tax for the city.