Many cities, counties, and other municipalities restrict owners from renting their properties on a short-term basis. The list is expanding as Los Angeles just finalized its restrictions on short-term rentals.
After years of discussion, Los Angeles has finalized its short-term rental restriction ordinance.
The new rules will be effective in July of 2019 and will cover all properties within the City. Under the new rules, owners will now have to limit the number of days a host can rent out their property to 120 days. The owner will also have to register with the city and pay a fee of $89 per year. There is a procedure to apply for an extended home-sharing permit, if desired, at an additional cost and with additional conditions.
Under Los Angeles’s rules, only primary residences can be rented out such that the owner must live at the property for at least 6 months out of the year. Stabilized units (aka rent control units), affordable housing, non-residential buildings, and temporary structures are not eligible to be a short-term rental under these new rules. Penalties for violations are steep, at $1,000 per day for over-renting or failing to obtain a permit.
Rules vary from jurisdiction to jurisdiction
This is just one example, and rules vary greatly from jurisdiction to jurisdiction. As such, any owner wishing to consider renting out their property on a short-term basis should confirm the rules in their area. To find out the restrictions in your area, check the website for your local government. You might also check out www.stradvocacy.org, which is a website created by some of the major short-term companies to provide information to consumers on restrictions on short-term rentals.
Thank you Jennifer Felten, Esq for the information in this article.