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AIRBNB ORDINANCE

Short-term home sharing has become a lucrative business in Los Angeles. In an effort to limit the proliferation of these rentals in residential neighborhoods and curb their negative impact on housing affordability, the City Council recently enacted new regulations. While the legislation was passed last December, the new requirements came into effect in July. Under the rules, all short-term rental hosts must register their home with the city planning department and pay an $89 fee. The host must live in the property for at least six months of the year and rentals cannot exceed an annual cap of 120 days unless they qualify for an extended home sharing option (and pay an $850 fee). Hosts are also limited to one home-sharing rental at a time and units falling under Los Angeles rent control are not eligible. The California Coastal Commission believes the ordinance is overreaching and not legally enforceable in coastal zone such as Venice, where Airbnbstyle apartment buildings are big business. For more information visit planning.lacity.org/HomeSharingOrdinance.

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r more information visit planning.lacity.org/HomeSharingOrdinance.

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Compass is a licensed real estate broker (01991628) in the State of California and abides by Equal Housing Opportunity laws. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdraw without notice. No statement is made as to accuracy of any description. All measurements and square footages are approximate. Exact dimensions can be obtained by retaining the services of an architect or engineer. This is not intended to solicit property already listed.