The city’s new policies place a 12.5% cap on how many of an apartment building’s total units can be permitted for short-term rental, down from the previous 25%. It also prohibits new short-term rental permits for units that are in incentive-receiving properties and not occupied by a long-term resident. And it requires short-term rentals to be re-registered whenever properties’ ownership changes hands.
Airbnb is a plague, that causes rents to go up. This is a good change, this means more housing for actual residents. At least that’s the hope.
Agreed.
I just moved out of Westport, in part, because four AirBNB’s popped up just on my little block in the past year. Housing scarcity is a huge issue and is only going to get worse as the Federal Government neglects it and forces states and cities to create their own policies.
On the plus side, though, my condo is friggin’ rad.