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Payment Processing Webinar, Vacasa Going Public, AI Cracks Down on Illegal Vacation Rentals, CPSC Elevator Letter

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Happy Friday!

Last week we hosted our Payment Processing Industry Expert webinar with David Goodale. He discussed pricing models, interchange and how to get a lower rate from a payment processor. If you missed that webinar, be sure to watch the replay here.

It seems like everyone is going public lately! Vacation rental management platform Vacasa, is going public as part of a recently announced deal with TPG Pace Solutions. Once the acquisition is complete, the combined company will trade under the symbol “VCSA.” This deal provides Vacasa with an implied pro-forma equity value of about $4.5 billion!

If you’re currently operating an illegal vacation rental, AI is coming for you! La Quinta, California has begun using AI that mines real estate transactions, along with other data, to determine if homes are operating as unpermitted vacation rentals. Cities are using this tool to step up their regulation and ensure all STRs pay the city bed tax.

The Consumer Product Safety Commission (CPSC) has sent a letter to Airbnb, Vrbo and other vacation rental platforms, urging them to require owners to disable residential elevators or provide inspection certifications showing that there are no dangerous gaps. This comes after a 7 year old boy at a beach vacation rental in North Carolina died after getting stuck between a moving elevator. Vrbo has already stated they plan to follow through with at least some of the recommendations in the letter, while Airbnb and TripAdvisor stated they were reviewing the letter.