How Airbnb is generating hefty tax revenues for the LA-area (Los Angeles: renters, how much)

[jm1982]

L.A bringing in big money from Airbnb . I'm guessing we won't see a crackdown on Airbnb like in NYC ?

--

A new report from Airbnb shows that the home-sharing service has collected and remitted nearly $40 million in taxes to the city of Los Angeles since reaching a voluntary tax collection agreement with the city last year.

The agreement allows Airbnb to collect and remit a 14 percent lodging tax on behalf of its host community. Between Aug. 1, 2016 and July 31 of this year that generated more than $3 million a month. That was a lot more than city officials expected because they had initially predicted it would generate $13 in annual revenue for L.A.


How Airbnb is generating hefty tax revenues for the LA-area

[Hopeful for Life]

Originally Posted by jm1982

L.A bringing in big money from Airbnb . I'm guessing we won't see a crackdown on Airbnb like in NYC ?

--

A new report from Airbnb shows that the home-sharing service has collected and remitted nearly $40 million in taxes to the city of Los Angeles since reaching a voluntary tax collection agreement with the city last year.

The agreement allows Airbnb to collect and remit a 14 percent lodging tax on behalf of its host community. Between Aug. 1, 2016 and July 31 of this year that generated more than $3 million a month. That was a lot more than city officials expected because they had initially predicted it would generate $13 in annual revenue for L.A.


How Airbnb is generating hefty tax revenues for the LA-area

It's no wonder that there is a serious housing shortage!! Lack of space, low interest rates, uncontrolled foreign legal/illegal immigration and AirBNB all contribute to the lack of housing. I can't tell you how many friends who have chosen the AirBNB route rather than rent out their emptied house when they move.

[Exitus Acta Probat]

Great! With all this extra revenue, we'll certainly get our streets and sidewalks fixed without any further excuses as to why there's no money to do so! Oh, wait, we have Criminal Garcetti as mayor, and a city council full of sleazoids who do things such as vote for a DWP rate increase in exchange for a portion of the fees getting kicked into the city's general fund (illegal).

Business as usual...city gets more money that we'll never see.

[jm1982]

Originally Posted by Hopelesscause

It's no wonder that there is a serious housing shortage!! Lack of space, low interest rates, uncontrolled foreign legal/illegal immigration and AirBNB all contribute to the lack of housing. I can't tell you how many friends who have chosen the AirBNB route rather than rent out their emptied house when they move.

I could see the appeal for the property owner of renting out on Airbnb. Especially since the tenant has more rights than the landlord in L.A . Airbnb seems to give more control to the landlord .
Haven't heard of having to evict Airbnb tenants for example .

Not sure how much Airbnb rentals are contributing to a housing shortage but I don't think that should be the landlords responsibility. It's not an individual landlords responsibility to provide affordable housing or to make sure there are enough units on the market for renters .

[jm1982]

Originally Posted by Exitus Acta Probat

Great! With all this extra revenue, we'll certainly get our streets and sidewalks fixed without any further excuses as to why there's no money to do so! Oh, wait, we have Criminal Garcetti as mayor, and a city council full of sleazoids who do things such as vote for a DWP rate increase in exchange for a portion of the fees getting kicked into the city's general fund (illegal).

Business as usual...city gets more money that we'll never see.

Yeah I'll believe it when I see it . When the streets are fixed. No homeless camps on the street etc.

Too much corruption especially with the current regime

[PDF]

Originally Posted by jm1982

I could see the appeal for the property owner of renting out on Airbnb. Especially since the tenant has more rights than the landlord in L.A . Airbnb seems to give more control to the landlord .
Haven't heard of having to evict Airbnb tenants for example .

Not sure how much Airbnb rentals are contributing to a housing shortage but I don't think that should be the landlords responsibility. It's not an individual landlords responsibility to provide affordable housing or to make sure there are enough units on the market for renters .

Nothing wrong with an owner of a property renting out their place. I think it only becomes an issue when you have renters doing that.

[GSR13]

Originally Posted by jm1982

I could see the appeal for the property owner of renting out on Airbnb. Especially since the tenant has more rights than the landlord in L.A . Airbnb seems to give more control to the landlord .
Haven't heard of having to evict Airbnb tenants for example .

Not sure how much Airbnb rentals are contributing to a housing shortage but I don't think that should be the landlords responsibility. It's not an individual landlords responsibility to provide affordable housing or to make sure there are enough units on the market for renters .

Airbnb is taking a potential rental unit for residents and turning it into a short term hotel for out-of-towners

[PDF]

Originally Posted by GSR13

Airbnb is taking a potential rental unit for residents and turning it into a short term hotel for out-of-towners

Not if it's an owner renting it out. Either way, the city gets the taxes.

[jm1982]

Originally Posted by GSR13

Airbnb is taking a potential rental unit for residents and turning it into a short term hotel for out-of-towners

Yeah but in L.A there is quite a bit that is geared towards tourists or out of towners.

47.3 million tourists spent $21.9 billion here last year .

I know there have been a lot of hotel projects that have been stalled or not approved for various reasons over the years I'm sure this has something to do with the big demand for Airbnb rentals in L.A .

There is nothing saying a landlord is obligated to only rent to a local . At least right now .

NYC has cracked down on Airbnb but it seems it's more to please the hotels versus rather than making sure New Yorkers have enough housing

[expatCA]

Originally Posted by GSR13

Airbnb is taking a potential rental unit for residents and turning it into a short term hotel for out-of-towners

So what?