A San Francisco ballot initiative that would limit short-term rentals has prompted Airbnb to shell out more than $8 million in a campaign to defeat the measure in Tuesday's election, Reuters.com reported Sunday (Nov. 1).
And recent polls indicate Airbnb has been successful in convincing residents to vote against the initiative, according to the report.
The proposed regulations are supported by affordable housing advocates concerned about short-term rentals eating up the available housing, driving up rents and leading to the evictions of long-term residents.
Read the full Reuters report here.
Want to know more about San Francisco's "Proposition F" initiative? The Los Angeles Times explains the details of the proposal here.
In New Orleans, the City Planning Commission recently held a public hearing on the future of short-term rentals locally. The commission is studying the issue and is tasked with making recommendations on how short-term rentals can be regulated to the City Council.