Editorial on LA Airbnb rules

The proposed Los Angeles law would prohibit short-term rentals of second homes or investment properties, and would bar home sharing in rent-stabilized units, which make up about 85% of the rental housing stock. This would significantly reduce the number of legal short-term rentals in L.A., which is why rental websites and property owners are lobbying hard to block this provision. The council should not back down, however, because the strictures would help reduce the incentive for landlords to take long-term rental units off the market while also preserving the rent-controlled units that provide affordable housing in L.A.’s increasingly expensive rental market.