NEWPORT BEACH, Calif.—Though complaints about short-term rentals in Newport Beach had led to more regulations, the city still doesn’t yet know how to deal with fractional homeownership—a new and growing trend where multiple individuals pool their money together to buy a shared home that each of them can use throughout the year.
Many Newport Beach residents have complained about short-term rental operations due to loud noises, partying, trash, and other issues related to their tenants, who are largely out-of-town visitors.
