For the last two years, Los Angeles County has been tightening regulations for Airbnb and other short term rental (STR) hosts. But despite implementing stricter rules on what kind of properties could be put on these sites, Los Angeles still had the most Airbnb units in the country at the end of 2019.
Once the pandemic began this year and travel bans were enacted, the short term rental industry came to a screeching halt. Here we are about five months later, and people are looking to go on vacation again, meaning STR reservations are picking back up. However, it might not be business as usual for some Los Angeles hosts, as Airbnb announced this week that there will be a new compliance system in place to help enforce LA home sharing laws.
Airbnb will work together with the LA City Council to implement their new plan, and a representative for Airbnb described the system as “first of its kind technology.” The main function of the system will be to communicate some listing information between Airbnb and the city.
One LA ordinance mandates that any property that goes onto the STR market must be registered with the state to ensure that it isn’t rent-controlled or an affordable housing unit. The property must also be the host’s main residence that they reside in at least six months out of the year. However, hosts were still able to list their homes on Airbnb without the number.
With the new system, Airbnb will remove unregistered listings and help enforce other city-mandated regulations. It will also streamline the registration process, making it easier for hosts to comply.
Airbnb has been accused of contributing to the lack of housing available in Los Angeles, driving up long term rental prices. The company hopes that implementing the new system signals their “long-term commitment to being a responsible partner to the city and all of its stakeholders”.
Are you looking to purchase a property and supplement your mortgage through Airbnb rental income or sell an existing Airbnb rental that doesn't fit into all of the city's new regulations and guidelines? Then email us or gives us a call at (323) 412-9060.Posted by Ben Nicolas on