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Stock impact report

Sacramento weighs new short-term rental rules as debate grows over housing vs. tourism [CBS News]

Airbnb, Inc. - Class A (ABNB) 
Company Research Source: CBS News
Janna Maron has operated an Airbnb at her home for 13 years and is one of Sacramento's original online rental owners. She's concerned about proposed new rules that could eliminate more than 300 short-term rental units in Sacramento, about 60% of the current market. "It definitely feels like I should have the right to do what I want with my property that I own," Maron said. The new regulations were introduced at Thursday night's planning commission meeting. It would require all short-term rentals, units that are booked for 30 days or less, to be at the owner's primary residence. It would also eliminate the ability to have more than one rental unit on the same property. "Why is that? To discourage permanent rental businesses in dwellings," said Kevin Colin, Sacramento's city zoning administrator. The city says it will help open up more existing units for permanent housing. The restrictions are supported by some housing advocates who say it will create more affordable units. Show less Read more
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