Short-term housing rentals are growing in Los Angeles – and so is the debate around them.
“Home sharing” industry giant Airbnb has released a study showing its website helped nearly 4,500 “hosts” rent out rooms or homes in the city of Los Angeles over a 12-month period ending in April. The hosts collected $43.1 million in rent.
The Los Angeles Times reported the study comes as City Council members are calling for tighter regulations on short-term rental arrangements.
The Airbnb study found guests and hosts directly or indirectly spent $312 million, enough to support 2,600 jobs.
Yet while business booms concerns have risen over zoning laws, neighborhood preservation, taxes and a squeezing of the broader housing market. City Council members have asked the city to study short-term rental laws.
Topics Sharing Economy
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