Residents in trendy neighborhoods like Venice and Silver Lake have been complaining about Airbnbs for years now—they say the company makes it too easy for landlords to illegally turn their rental units into hotel rooms, driving up rents and making residential neighborhoods into tourist zones (which is completely outlawed by Los Angeles zoning codes and the codes of most adjacent cities). Airbnb has alwaysrefused to release any exact information on its units, but now a study from the Los Angeles Alliance for a New Economy has dug up the facts and it’s more dramatic than anyone could have guessed: just nine LA neighborhoods account for 73 percent of the money Airbnb makes in the region. And rent in those neighborhoods is growing much faster than in other places. Read full article.
The Nine Neighborhoods That Make All the Airbnb Money in LA
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