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In March 2015, the Los Angeles Alliance for a New Economy (LAANE) released Airbnb, Rising Rent, and the Housing Crisis in Los Angeles. That report, based on data gathered in October 2014, found that Airbnb listings were dominated by commercial operations and were exacerbating the lack of affordable rental units in L.A.’s already tight housing market. The goal of this reassessment is to determine how the size and scope of the short-term rental (STR) industry has changed over the last nine months. This policy brief examines listing information from a broad range of STR operators alongside new Airbnb data. Combining these data sources allows for an examination of how Airbnb’s internal composition has changed over the last nine months and allows for the creation of a more refined snapshot of the Los Angeles STR industry.
Community benefits agreement between the City of Los Angeles and the developer of a sports and entertainment complex. The CBA includes provisions including parking, tenants, living wage, local hiring, service worker retention, responsible contracting, and affordable housing.
This ordinance; mandates certain percentage of set-asides for affordable units for each projects receiving major public subsidies; provides for extra cash subsidies, exemptions, waivers, and modifications in certain situations; allows for certain developments to apply for a density bonus if the project would not otherwise be economically feasible or if all the units are at or below a certain housing cost; and requires that development include at least 10% affordable units for developments with 30 or more units.
This ordinance establishes a non-profit corporation in the form of a trust fund to address the permanent housing needs of residents whose income is at or below 50% of the median income.
The lodging tax obtained from Airbnb allows the county to regulate short term rentals. Local residents have complained of noise, crime, and other problems caused by short term rental industry. Lodging tax allows government to remove advantage these short rentals over hotels and to manage the industry more easily.
This ordinance: requires, for participating developments, a minimum of 15% of the dwelling units within the participating residential development to be affordable to households with an income not to exceed 80% of the Area Median Income and that participating residential developments including or consisting of apartments provide affordable housing units as rental units in the same proportion that the apartments comprise a portion of the total residential development; provides density bonuses, including a 20% unit increase, and zoning ordinance dimensional adjustments; requires the appropriate agency to annually publish a pricing schedule of sale and rental prices for affordable dwelling units; establishes limitations governing the resale of affordable dwelling units created under this bill; and requires affordable dwelling units to be dispersed among the market rate dwelling units throughout the development.
How short term rentals should be regulated suggested by Policy Matters Ohio, such as limits on rentals, living wages for cleaning workers, adequate taxes, licensing of both rental platforms and owner, and housing rust fund.
Sharing our homes has been commonplace for as long as there have been spare rooms and comfortable couches. Whether through word of mouth, ads in newspapers or flyers on community bulletin boards, renters and homeowners alike have always managed to rent out or share rooms in their living spaces. These transactions were decidedly analog, but they represented a genuine peer-to-peer marketplace. Websites like Craigslist eventually made connecting sellers to buyers far more common. Companies like HomeAway applied the same principle to the vacation home rental market, allowing owners of vacant homes to connect with vacationers. In all these cases, transactions were limited to the buyers and sellers. If there were negative effects arising from the transaction, they were largely limited to the buyers and sellers. AirBnB changes this basic formula. By incentivizing the large-scale conversion of residential units into tourist accommodations, AirBnB forces neighborhoods and cities to bear the costs of its business model. Residents must adapt to a tighter housing market. Increased tourist traffic alters neighborhood character while introducing new safety risks. Cities lose out on revenue that could have been invested in improving the basic quality of life for its residents. Jobs are lost and wages are lowered in the hospitality industry.
This ordinance establishes rules regarding the development and resale of properties within city limits which caps the amount of appreciation which may be gained by an individual upon resale of a domestic residential property. This ordinance also increases the supply of mixed and middle-income properties through standards and requirements which are applied to developers.
This ordinance provides real estate developers with incentives, such as density bonuses and flexibility in design, for providing units affordable to families making 70-100% of area median income.