LA Eyes Airbnb's Big Ideas for Short-Term Rentals

0:00It's April 24th. From your city to your ears, this is California News Today, powered by AI. Los Angeles leaders are eyeing two big ideas from Airbnb to shake up short-term rental rules. First, they want to let hostless second homes and investment spots on the platform until the end of 2028. Second, Airbnb offers to prepay part of the tourist lodging taxes it collects, pumping tens of millions extra into the city budget each year. These moves come straight for Mayor Karen Bass's budget plan for next July. Their pitch as a short-term boost ahead of the 2028 Olympics, helping fund street fixes, parks and tree trimming without hiking, taxes right away. Airbnb calls it a real partnership, stepping up with cash of front for city needs. But hotels and worker unions like Unite Hair are pushing back hard, saying it's a trick to flood the market with rentals and kick out long-term. Back in 2018, LA cracked down, limiting listings to primary homes only, but enforcement's

1:02been weak with thousands operating illegally. Anyway, Airbnb claims lifting the ban on extras could rake in over 100 million a year and new tourist cash. Budget hearings kick off Friday with the first vote May 21st, so council members will hash it out soon, could be a game changer for housing, tourism and the city's wallet heading into the games.