City regulations on Airbnb rentals are ‘punitive’ to ordinary people, co-founder says

Home-sharing platform Airbnb has been increasingly under fire through city authorities attempting to limit residential rentals through the online marketplace.

Arguing within the company’s defense This kind of week, Airbnb co-founder in addition to Chief Technology Officer (CTO) Nathan Blecharczyk told CNBC in Paris of which This kind of can be largely a result of “misinformation” in addition to hurts ordinary people.

Varying local regulations, which often fine users as well as Airbnb for breaching local rules on property renting, are “punitive” to regular people in addition to hit many users’ sources of income, Blecharczyk said during the Organization for Economic Cooperation in addition to Development’s (OECD) annual forum This kind of week.

City regulators have been cracking down on the rental service. In Berlin, owners who rent more than half of their properties out without city council permission could face up to $100,000 in fines. Dublin requires planning permission for users who want to change the use of their property for short-term lets. brand new York City’s mayor in 2016 signed a bill to fine landlords letting out their properties for less than 30 days, while London requires planning permission for rentals longer than 0 days.

The local officials claim of which houses used for Airbnb renting end up inflating property prices in addition to have a negative impact on the community, while the company’s executives say the idea only increases prices “on the margins.” Varying metrics examining the platform’s market impact have produced conflicting results, although the rise of short-term rentals has taken thousands of houses off the market in individual cities in addition to increased demand in already high-demand areas.

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