>>Estimates that more than 7,000 houses and apartments have been taken off the rental market in metro Los Angeles for use as short-term rentals.
As I am searching for a good apartment in LA, this makes me bit upset.
As I am searching for a good apartment in LA, this makes me bit upset.
This graph (p. 3) shows that zoning changes in LA since 1960 are many orders of magnitude more important than 7,000 short-term rentals: http://1.bp.blogspot.com/-HnkwzmO56vU/VQHurofJUUI/AAAAAAAABE...
As an aside, if anyone is looking to locate a startup in Los Angeles, do your future employees a favor and avoid Santa Monica. Downtown LA and Culver City are far more sensible options and allow for a reasonable commute and/or nearby housing at lower prices than Santa Monica.
The owners of these properties have clearly determined that the actual value they can realize on the properties they own is maximized by Airbnb as opposed to a more traditional rental. They're certainly happy, as are -presumably- their short-term renters.
Perhaps you could take a different approach and explain to me why you feel the interests of a single renter should supersede those of a property owner and 10's or even hundreds of shorter-term renters.