Should LA loosen restrictions on Airbnb ahead of the Olympics?

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by Airtalk Staff

Should LA loosen restrictions on Airbnb ahead of the Olympics?

Los Angeles officials are considering a pair of Airbnb-backed proposals that would temporarily loosen city regulations on short-term rentals and allow the company to pre-pay a portion of the lodging taxes it collects from tourists. If approved by the City Council, the first proposal would allow Airbnb hosts to rent second homes and investment properties on the platform through 2028 — something the home-sharing giant has long sought, but the city of L.A. has prohibited since 2018. The second proposal would involve Airbnb paying some portion of the transient occupancy tax it collects from tourists to the city of Los Angeles ahead of time to assist with the city’s budget troubles. That could generate tens of millions of dollars more for the city per year, according to the company. Joining to discuss the regulatory history of Airbnb in the city, how people are responding to the latest proposal, and more is Rick Cole, current Pasadena city councilmember and former Chief Deputy City Controller of the city of Los Angeles, and Noah Suarez-Sikes, lead organizer with Better Neighbors L.A.. What do you think about this proposal? Do you want to see restrictions loosened for airbnb rentals? Are you considering rental options ahead of the Olympics? Are you concerned about more airbnb rentals throughout the city?

With files from LAist. Read more here.