Ocean Beach and San Diego rated in national review of short-term rental impacts

In a national review of the impacts of short-term rentals on cities, San Diego — and Ocean Beach — are noted. And former OB city council prez Gretchen Newsom is quoted.

Business Intern published an article Dec. 7 about how “leaders” in cities such as San Diego and Atlanta are aiming to limit short-term rental activity and that some STVR owners are “pushing back government regulations.”

It’s an ironic twist, isn’t it? She is not mentioned, but Councilwoman Campbell could claim to be one of these “leaders”.

The article explains, under a subtitle of “Cities Fighting Back”, that “This spring, the San Diego City Council passed an ordinance that would cap short-term rental properties at 1% of the local housing stock, that’s about 5,400 units.At the time, it was believed that there were more than 12,000 properties for short-term rent in the city, the La Jolla Light reported.

Gretchen Newsom, the former director of OBTC and currently residing elsewhere in San Diego, said, aptly, last March at UT:

“The sad reality is that the housing stock in Ocean Beach has been decimated by short term vacation rentals. Over the years I have watched properties in our block being bought up by investors and turned into vacation rentals. short-term vacation.

Robert Davis’ play begins:

Short-term rentals have become a go-to asset for real estate investors in cities like San Diego, Detroit and Philadelphia during the pandemic as low interest rates and federal stimulus dollars have made it easier and cheaper to purchase of investment properties.

According to AirDNA, in September there were more than 6.1 million short-term rental listings, up 19% from September 2019. But lawmakers and housing advocates say too many properties listed on Short-term rental sites like Airbnb and Vrbo make it difficult for regular buyers to compete for homes.

Investor-owned Airbnb rentals have become so ubiquitous that even The Onion has bucked the trend.

In some cities, government officials are trying to regulate how many short-term rentals investors can buy. New regulations have pitted municipalities against businesses and family investors by requiring short-term rental operators to be licensed or requiring landlords to live in the properties they plan to rent.

For the balance sheet, please go here.