Long Beach Council Takes On Short-Term Home RentalsRelease Date: 2017-03-24
Long Beach's City Council wants to find out how short-term rentals like Airbnb are impacting the city, and how the city could regulate them.
Second District Councilwoman Jeannine Pearce said that she began wondering about the popular short-term rental business in the context of the city's very tight housing market. If apartment managers or other property owners are holding back homes to attract tourists rather than renting them to locals, that would make the housing shortage worse, she said.
Also, it is possible the city is losing a significant amount of Transient Occupancy Tax (bed tax) revenue because there is no mechanism to charge and collect those taxes from short-term rentals.