Being able to rent out your home on a short term basis is one thing, but converting a residence into a small hotel is another problem. It destroys the character of an R1 (residential zoned area). Particularly when it can be done with out complying to building, city and fire safety codes for a similar commercial property. I would contend that they cost jobs as they have in New York where occupancy rates have dropped over 20% in hotels and hotels have had to layoff employees.
When (as we have had in our Estate La Colina area) truck drivers drive their big rigs into our neighbor hood to stay in a short term rental (small hotel) and block neighbors driveways it is not a positive situation. It has resulted in long standing neighbors selling their home at a significant loss. That is not an economic benefit. We are getting realtors calling and sending letters wanting to know if we want to sell our home. This is not good for Tempe!