Quote:
Originally Posted by donk.
Cue renters complaining because rental stock would shrink and bump prices even higher for rent
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The imaginary situation I’m creating would do the opposite. It would take investment properties being used for short term rentals, or empty buy and holds and put them back into housing stock.
That situation would remove people from the renter pool as they could become homeowners, potentially decreasing the competition/demand for rental units.
Again I have no numbers or idea to back this up, so have no idea how much it will help, but it could be a little or a lot, and goes back to the fact that no one should own these properties to sit empty or be short term rentals where there is a housing crisis.
Short term rentals should only be allowed as a suite on a property that is occupied by renters or owners of the main unit, or in situations for what Airbnb’s original plan was, which was to allow homeowners who were somewhere else for say a 2 week vacation and to allow their home to be rented while they are gone.
The government should create rules that would decimate their current business model.