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  1. #1
    Registered User Pro Member
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    Cities Starting to Limit Rentals

    Accoriding to reports I've seen, some cities are starting to limit or even try to bean rental properties.



    One city (Ojay, California) made rentals under 30 days illegal. Possibly in response from pressure from the hotel industry over Airbnb cutting into their profits.

    And there are many more cities across the US doing the same.

    On top of that, the city of Winona, Minnesota, capped rentals to 30% of the homes (broken down by neighborhoods).

    How do these regulations make you feel able getting into real estate and land lording?

    And when did we become a society where we need permission to use our property in natural ways?

  2. Cities Starting to Limit Rentals
  3. #2
    Registered User Enthusiast
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    NIMBY-ism rears its ugly head.

  4. #3
    Registered User Senior Member
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    A lot of developed communities have had rental caps and restrictions for years. I have a friend who wanted to rent out a home he bought after deciding to relocation for a job. And he was never able to get his board's approval.

  5. #4
    Registered User Semi Pro Member
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    271
    There is another thread going on where someone is considering buying a new home before selling the current one. So add being barred from renting out your home if you can't sell as one of the risks.

  6. #5
    Registered User Enthusiast
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    I was thinking of using Airbnb to rent out some properties while between tenants. So this would definitely be a negative development for me.

    For a lot of cities, outside the most "exclusive" neighborhoods, I would think that being able to unlock rental value from properties is vital in the pricing. Without it, I think local real estate values are a lot less. And, therefore, property tax collection will decline. So its sort of like shooting yourself in the foot.

  7. #6
    Registered User Semi Pro Member
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    So I can understand private neighborhood associations or condo building trying to limit rental activity. Too many renters disturbs the balance, as rental properties tend to be less well kept and renters often are worse neighbors. Or at least that can be the perception.

    But you know this going into the purchase.

    For cities to do this seems to be taking away important property rights. I do not think it is right. And I hope people are fighting back.

  8. #7
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    I laugh at this. VRBO has been around for about a decade. No one cared. I guess because it focused on week long family vacation rentals at the mountains or beach - usually where the other owners were also try to finance their properties through rental income.

    You go to the cities - where people need to complain about everything - and suddenly there is a problem.

    Is it because Airbnb involves rentals to younger people/non-families? Or because they are staying in your neighborhood? I mean, you are a community of renters probably anyway? So what is the beef ...

    And it all goes back to the fact that people in cities are very against new things, very venal, and very much need to complain about everything.

  9. #8
    Registered User Senior Member
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    120
    I do not know if people big cities are more likely to complain about things. But they do live closer together, and probably need a little more refereeing to keep from getting on each others nerves.

    But these anti-rental moves seem to be coming from smaller cities. And I think they have a lot to do with local residents not liking renters or people who use airbnb. But a belief that capping or stopping this stuff will somehow stem the decline of their neighborhoods.

    We'll see both if it works, and if some mount attacks - after all it is a restraint on fundamental property rights.

  10. #9
    Registered User Semi Pro Member
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    282
    I think airbnb scares existing urban renters. The zoning laws already make housing there more expensive by limiting supply. Now landlords are also finding ways to increase demand.

    I am no economist, but even I can see that price increases are in the works.

    And with rent levels already escalating out of control, this is bad news for regular working class people.

    That is why they need protection.

  11. #10
    Registered User Semi Pro Member
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    414
    Some of the issues w/ airbnb arise when renters want to sub-lease when they are out of town. that is often forbidden in their leases. landlords are powerful, and look for more blanket ways to protect their economic interests than suing and evicting one by one.

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