Researchers have recently begun to explore residents’ perceptions of short-term vacation rental (STVR) from both qualitative and quantitative approaches, but there is still a need for strong theoretical underpinnings to support this growing body of research. This study addresses this gap through applying a theoretical perspective that combines Social Exchange Theory and Weber’s Theory of Formal and Substantive Rationality to assess residents’ attitudes toward STVRs in the US city of Savannah, Georgia. Results from 384 resident surveys revealed that support for STVRs was a function of both the costs and benefits associated with STVRs, as well as perceived social and psychological empowerment from STVR development. These findings highlight the need for regulatory approaches that ensure STVRs do not infringe on residents’ sense of community and that STVR activity reflects the values and norms of residents so that STVR visits induce resident’ pride in their neighborhoods.

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