Airbnb regulations could be coming to a city near you
Airbnb has long been a reliable way to find a host family. Since its inception in 2008, the site has hosted over 7 million homes worldwide where travelers can stay in a room or rent an entire home for themselves. Recently, many cities have cracked down on short-term stays, citing security concerns, fake listings, and rising property prices that drive people out of their homes when the accommodation becomes used only for Airbnb rentals. What are cities doing about these problems? What is Airbnb to help correct them? And go Airbnb be viable longer?
From 2015 to 2019, the number of Airbnb listings in London nearly quadrupled, forcing much of the capital’s housing supply to be owned and operated as short-term rental units. By in mid-2019 alone, 80,770 properties in London were listed on Airbnb with nearly a quarter of those violating the city’s 90-day limit or a rule that states a property cannot be rented on Airbnb for more than 90 days of occupied nights each year. Even more amazing, data reports showed that out of all of these listings, only 1% of hosts were responsible for 15% of active listings at that time. It is also estimated, using third-party data measurement tools, that 30% of hosts in London have at least three listings on the platform, which further shows how Airbnb ownership has quickly become a kind of monopoly.
Airbnbs is not just a concern in London, the growth of the short-term rental market is impacting even suburbs and sprawling outlying boroughs. Almost 10% of the property stock in Camden and Westminster is listed on Airbnb, for a total of 7,000 entire properties, with half exceeding the 90-day limit. Of most concern is that 6,000 families are currently on the council’s housing waiting list. Many council members believe that short-term rentals are spiraling out of control and exacerbating the housing shortage.
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London is not the only place feeling the impact of the growing number of Airbnb Advertisement. New York City also implemented its own 90-day limit with even more restrictions. Additionally, house rentals of less than 30 days are not permitted unless the permanent resident (or Airbnb operator) is present in the unit. The city is already being pushed to its limits with astronomical property prices caused by a tight housing supply. These rules are becoming increasingly difficult to enforce, especially with the number of rentals breaking these laws. Visitors who rent these stays say they help the city’s economy by providing more options, but city officials want tourists to stay in hotels, an industry that has suffered greatly during the pandemic.
In just a few days, New York City can free a new set of rules to further limit the number of Airbnbs available for rent. The new rules would require hosts to submit apartment floor plans to the city, provide proof that the home is their permanent residence, submit their lease documents, and demonstrate their understanding of the city’s multiple-unit laws. town. Hosts would be prohibited from locking doors where residents are staying and complying with other rules to protect the safety of visitors. Any violation would result in heavy fines by the city. The push for these tough laws comes as a recent study found there are more Airbnb listings than inventory of open apartments in the city. In a Report held back, less than 8,000 units were available for rent in Manhattan, Brooklyn and Northwest Queens in April of this year. At the same time, Airbnb listed 10,572 rooms or entire homestays for rent, with another list of data, Inside Airbnbprojecting that there were 20,397 announcements at that time.
Will more restrictions help ensure that Airbnbs operates legally around the world, and how might those laws be enforced? It’s possible that Airbnbs will have to completely reinvent itself to become longer-term stays to accommodate these rules, and that check-ins to a stranger for a weekend won’t be so smooth soon.
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