Good news, it's Friday!😃
This week we had our webinar with Airbnb on Offline Security Deposits and Request to Book. If you've been waiting for these features as long as we have, check out that webinar to learn more.
In a recent interview with CNBC, Airbnb CEO stated that millions of new hosts would be needed to meet travel demand. Airbnb currently has a whopping 4 millions hosts, with hopes to bring on many more to accommodate the recent rise in travel.
California legislators have introduced a bill that would implement a state-run system to regulate short-term vacation rentals by collecting and redistributing transient occupancy tax revenue. The bill would require listing sites like Airbnb and Vrbo to collect the transient occupancy tax, then dispense the funds to the California Department of Tax and Fee Administration. The CDTFA would then allocate the revenue to the intended city or county. Local municipalities would need to opt-in to the program and enact an ordinance.
Oahu may end up using a lottery system for vacation rental registration. The proposal would limit the number of short-term rentals outside of the permitted area and prohibit rentals to be within 1,000 feet of each other. Also, homeowners would only be able to apply for a limited number of new permits.
Washoe County, NV is accepting applications for short-term rental permits beginning May 1st, 2021. Around 12.5% of housing in Incline Village and Crystal Bay are already short-term rentals. The county is anticipating a flood of applicants once the online platform launches.