This forum is dedicated to connecting hosts with other hosts. Sign up to get the latest updates and news just for AirBnb hosts! Note that we are not affiliated with Airbnb - we are just passionate hosts!
It’s not just the hotel lobby. Many of your neighbors don’t like Airbnb either. In 2019, in the nearby community of Jersey City, Airbnb and their hosts suffered a major defeat when voters decided by a margin of 70% to impose restrictions on Airbnb. Airbnb spent over 4 million dollars lobbying against the law.
I’m not saying the new regulations are reasonable or that you shouldn’t fight them. I’m only saying that it’s too easy to blame “the hotel lobby.”
The New York Times said this:
Key words to me: “Helping Shoot up Housing Costs”
When my landlord kicks me out because he can do better renting on Airbnb, or sells his property to someone who makes it a short-term rental, we’re going to have these kinds of regulations.
The elephant in the room – the untouchable – is the effect of rights that tenants have won under leases that landlords are so eager to get out under from. With rent control, the eviction freeze during some part of the pandemic, difficulty, costs and time to evict in many jurisdictions it’s no wonder that some landlords would jump to make money in the less regulated (currently) STR market. I’m not saying that tenants should lose rights, just that the marketplace will always be looking for a better ROI whether in real estate or elsewhere.
Exactly my situation with my LTR properties.
I had a run of poor tenancies with domestic violence, hoarders, overcrowding, rent arrears and awful property care.
Much happier with STR and made a successful business out of it.
That’s so great that you got out from under it.
To me it’s sad that municipalities layer on so many burdens on landlords. The eviction freeze during the pandemic was particularly offensive, un-American, a ‘taking’ of property and ultimately unlawful but not before hurting landlords all over the country. I don’t want to go too far afield here. I’m not against helping renters hit by the pandemic, but not by taking money out of the pockets of any business owner.
We read stories all the time of the porch that collapsed or the fire in a poorly maintained building. There’s no excuse for that. But when governments make it increasingly expensive for real estate owners many just don’t have the money to maintain them properly. Some, I am sure are greedy or ignorant. I’ll just stop there.
Harrowing experience - congratulations on passing! In Canada there is an income tax consequence of commercial zoning for a principal residence or part of a principal residence. This may only affect a small percentage of properties - such as where a property is part principal residence and then part is zoned commercial. In Canada, the proceeds from disposition of a principal residence (the address where you primarily live - you can have only one principal residence) is not subject to capital gains tax - a significant tax savings where the value of the property has increased substantially since the date of purchase. However, the sale of commercial properties is subject to capital gains tax. I don’t know how this plays out in other jurisdictions and then this is likely only an issue for a small percentage of owners.
Whoa, whoa, whoa, wait a second… your property has been rezoned to commercial???
That’s a big difference than just a town requiring you to get a STR license.
Isn’t that going to affect you in many different ways? Commercial property gets a different type of loan, higher interest rates, and totally different qualifications for the next buyer. Doesn’t this change your insurance? Residential homeowners insurance is quite different than insurance for a commercial property. Commercial properties typically require fire sprinklers, different egress, different rules for bathrooms, even parking spaces…
This sounds like a huge can of worms! 
Well, it doesn’t sound like he had a choice if he wanted to run an str business where he lives. So not sure what you mean by whoa, whoa, whoa.
