VRMA Administrator
Short-term rental hosts in San Diego, California, are infuriated with a new ordinance mandating that they acquire a license by May 1, 2023, saying it could put them out of business. The licenses must be obtained through a merit-based lottery system, leaving no guarantee that applicants will receive licenses. San Diego has imposed a whole-home rental cap of 5,400, accounting for 1 percent of its residences. The city sees the measures as creating a more level playing field for long-term renters and buyers amid a housing market in turmoil. City councilmember Jennifer Campbell says the cutbacks enhance the quality of life for neighbors, and return more housing to residents. However, San Diego State University Professor Tanya Hertz disagrees. "We saw all of these bigger companies go and snatch all the available homes and now there's not a lot of homes available, and even with this ordinance, I doubt it will have much of an impact on the market," she says.
Fox 5 San Diego (10/03/22) Sarah Alegre
