Finding a place to live in Seattle isn’t easy. Prices are high and inventory is low. Some say short-term rentals, like Airbnbs, are part of the problem. Services like Airbnb are part of the so-called sharing economy — they allow homeowners to rent out spare rooms so they can make extra money. Proponents say that extra cash is helping them pay their mortgages and stay in Seattle.
According to a recent Airbnb survey in Seattle, 11 percent of people renting out rooms through the service said the extra income prevented them from losing their home. Some are retirees on fixed incomes. But there are also landlords who have created small businesses by renting out multiple units.
The Seattle City Council is concerned that’s taking long-term rentals off the market. So it’s proposing a yearly, 90-day cap on rentals that aren’t owner occupied.
“It really is the commercial operators who are taking advantage of a loophole in the law and operating in residential areas, and converting multi-family, long-term rentals to the short-term rentals. That’s who we’re trying to target,” said Seattle City Councilman Tim Burgess.
Joe Kenny who has a short-term rental business is against the idea.
“It would destroy this business, with a 90-day limit for non-owner occupied short-term rentals, you would destroy these jobs. You would destroy affordable vacation and corporate housing,” Kenny said.
But low-income housing advocates say they’re seeing more and more renters being displaced. And limiting Airbnbs is necessary in order to maintain a good supply of long-term housing.
The Seattle City Council won’t vote on the proposal until September.
