With the new rules and regulations implemented for the Airbnb hosts of Los Angeles, many owners are finding themselves no longer able to use their properties for short-term rentals. Even if you can still rent as an Airbnb, hosts are seeing their profits drastically reduced with the limited number of days allowed for renting, registration fees, and new taxes.
The new rules, which will be enforced on November 1st, will make it so homeowners can only Airbnb their property if they meet the following criteria:
The property is your primary residence, meaning you actively live there at least 6 months a year. No more vacation home Airbnbing unless you’re taking 6-month long vacations at the property.
You must register your property with the city planning department for a fee of $89.
If your property falls under the City’s Rent Stabilization Ordinance, (i.e. is Rent Controlled) it is no longer allowed to be an Airbnb space. This applies to all rental units in Los Angeles that were built before 1978.
The property must be zoned for residential use. Make sure to check with your zoning because often times residential units can be within a commercial zoned space and would not qualify for Airbnb.
If your property has any pending citations, order, ticket, or similar notice of violation from any City enforcement agency it will not be eligible for renting.
If your property is a rental unit, you must have written approval by your landlord to host guests.
All Airbnb properties can only be rented for a maximum of 120 days a year, unless you have been approved for an “extended home-sharing option." Which allows you to rent for an unlimited number of days pending approval, the payment of an $850 fee, and no citations within the last 3 years. If your property has a citation, you may pay a fee of $5,600 for your case to be reviewed for appeal.
If you as a host have found yourself no longer able to rent your property or make a profit because of these regulations, don’t worry there are other options available to you! Consider converting to a long-term rental.
Lower vacancies rates produce a more consistent stream of income and reduce cleaning/maintenance fees incurred with Airbnb.
Figure 8 PM is a property management company that can assist you with this process. Providing services such as leasing, handling maintenance and repair request, tenant relations, and more. We make owning a rental property a breeze, giving you peace of mind and more free time.
- (213) 947-3667
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