Attempts being made to limit Airbnb rentals
Fifteen years on from its founding, rental platform Airbnb is making record profits while authorities across the world are coming up with a variety of regulations to keep it from further disrupting the housing market and property owners using the platform are trying to skirt those rules.
Estimates for third-quarter profits range from $3.3-3.4 billion.
Cities are trying various strategies, from forbidding all short-term rentals of privately owned apartments to limiting the number of days per year properties can be rented short-term. All these regulations stem from the fear that locals will be chased away, especially from the most desirable central city neighborhoods.
Airbnb claims it is cooperating with authorities, allowing them access to its database. About 80% of Airbnb’s top 200 markets have regulations limiting short-tern rentals, it says.
