IDEAS home Printed from https://ideas.repec.org/a/kap/jrefec/v22y2001i1p117-28.html
   My bibliography  Save this article

The Value of Smoking Prohibitions in Vacation Rental Properties

Author

Listed:
  • Benjamin, John D
  • Jud, G Donald
  • Winkler, Daniel T

Abstract

We examine the value of smoking prohibitions by developing a model of the rent differential between smoking and nonsmoking properties. We empirically test for the rent differential using a data set of vacation rental properties from the Outer Banks of North Carolina. Given peak season rents, hedonic variables such as oceanfront location, and number of bedrooms and bathrooms price according to expectations. Distance from vehicular congestion also leads to greater rent, reflecting vacationer desires for beauty as well as peace and quiet. Most significantly, our results reveal that vacationers are willing to pay substantial additional rent for properties that prohibit smoking. Understanding the demand for smoking prohibitions is important to academics, professionals, and others associated with owning, operating, and financing real estate. Copyright 2001 by Kluwer Academic Publishers

Suggested Citation

  • Benjamin, John D & Jud, G Donald & Winkler, Daniel T, 2001. "The Value of Smoking Prohibitions in Vacation Rental Properties," The Journal of Real Estate Finance and Economics, Springer, vol. 22(1), pages 117-128, January.
  • Handle: RePEc:kap:jrefec:v:22:y:2001:i:1:p:117-28
    as

    Download full text from publisher

    File URL: http://journals.kluweronline.com/issn/0895-5638/contents
    File Function: link to full text
    Download Restriction: Access to full text is restricted to subscribers.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Zhengzhen Tan & Siqi Zheng & Juan Palacios & Carl Hooks, 2021. "Market Adoption of Healthy Buildings in the Office Sector: A Global Study from the Owner's Perspective," International Real Estate Review, Global Social Science Institute, vol. 24(2), pages 253-292.
    2. José Francisco Perles Ribes & Luis Moreno Izquierdo & Ana Ramón Rodríguez & María Jesús Such Devesa, 2018. "The Rental Prices of the Apartments under the New Tourist Environment: A Hedonic Price Model Applied to the Spanish Sun-and-Beach Destinations," Economies, MDPI, vol. 6(2), pages 1-9, April.
    3. Cigdem Gedikli & Robert Hill & Oleksandr Talavera & Okan Yilmaz, 2023. "The hidden cost of smoking: Rent premia in the housing market," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 51(3), pages 611-629, May.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:kap:jrefec:v:22:y:2001:i:1:p:117-28. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.