The old strategy of don t ask for permission but forgiveness seems to have worked for Airbnb and other home-sharing online firms.
The San Francisco Board of Supervisors voted Tuesday 7-to-4 to initially approve the so-called Airbnb law.
But companies like Airbnb and other online platforms, which match hosts and short-term tenants, will face new regulations, as TechCrunch reported.
Chief among them is a new 90-day limit on full residence rentals per year. Hosts will have to register with the city and pay hotel tax. It s up to the hosts, and not Airbnb and other services, to register and confirm that they are complying with the 90-day limit.
The legislation, which is expected to go into effect early next year, legalizes the home sharing businesses, many of which had been in violation of the city s long ban on residential rentals of less than 30 days.
Supervisors are worried about the hotelization of residential property for tourists at a time when there is high demand for housing.
But Airbnb and other sites that match hosts with visitors will not have to pay $25 million in back taxes.
The company, which is valued at about $10 billion, issued a statement, via the San Francisco Business Times:
Above: Airbnb screen shot.
