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Now they have the option instead of selling it, to make it a full time AirBnb rental.

Many cities are actually regulating/pushing regulations against short-term rentals.

With zero enforcement

Absolutely not true

Certainly some landlords will do that as rent control shifts their business into unprofitability. Result: less rental housing stock.

How will that even work? San Francisco has multi tenant apartment building and restrictions on condo conversions.