LA Cracks Down on AirBnB
AirBnB has already been restricted in West Hollywood and Santa Monica. Finally, late last month, the city of Los Angeles has attempted to finally put some constraints and rules to legalize it.
I’m going to quickly summarize the rules that they put in place:
1. First and foremost, if you’re going to be an AirBnB host, you have to register with city planning and pay an $89 fee.
2. You cannot rent out anything other than your primary residence which is defined as the place that you live for at least 6 months out of the year.
3. Here’s a big one: rent controlled units are not eligible.
4. You also cannot operate more than one rental at a time.
5. Another restriction here is you cannot AirBnB your place for more than 120 days in a calendar year unless you’ve registered for what they’re calling “Extended Home Sharing.” That will cost an $850 fee and to qualify you have to have been registered for at least 6 months or hosted for at least 60 days.
6. The last one is, all the cool Airstreams (in Malibu for example) listed on AirBnB, you wont be able to rent those anymore. No storage sheds, trailers, tents etc.
I do want to say that I think it’s a good thing because so many of these AirBnB rentals would normally be rental inventory and because of that, it has been facilitating the housing crisis that we find ourselves in.