L.A. considers expanding Airbnb-style short-term vacation rentals

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Owners of second homes — and Airbnb — stand to reap a windfall under an initiative in Los Angeles Mayor Karen Bass’ new city budget proposal.Tucked away in the more than 500 pages of city budget expenditures, the mayor calls for creating a new revenue stream by allowing people who own a second home to rent it out on a short-term basis, something that is currently prohibited.The mayor’s office says the measure would provide additional tax revenue for the city and extra beds for visitors during the 2028 Summer Olympics, with the measure expiring at the end of that year.To take effect, the City Council would need to approve a vacation rental ordinance.

Expanding the short-term rental market out of the city’s existing housing stock is fiercely opposed by the hotel workers union and hotel companies, as well as by affordable housing advocates who say it will further deplete the city’s limited housing stock.City Council members voiced some of those same concerns at a meeting of the Budget and Finance Committee on Tuesday.“I have a list of dozens and dozens of [rent-stabilized] units in my district ...

that are currently Airbnb units.This is happening,” Councilmember Eunisses Hernandez said.

Councilmember Bob Blumenfield said a significant policy change such as this should move through a regular council process and not be approved as part of the budget.“This is a huge policy.

It’s going to require a lot of vetting,” said Blumenfield, who chairs the council’s Planning and Land Use Management Committee, which is scheduled to consider the vacation rental ordinance May 12.Bass spokesperson Paige Sterling said the mayor wants to have as many beds as possible available in the city when the Olympics take place.

Under current law, Los Angeles residents can rent out only their primary residence and not additional “vacation” homes they may own.“She has met with se...