AirBnb Stays True to Their Word About Exacerbating Housing Shortages

In late 2015, revolutionary home-rental service Airbnb promised to work with cities who claimed that the online platform was exacerbating housing shortages in their neighborhoods. Over a year later, it appears that Airbnb has taken steps towards that end, most notably in Europe.

Source: EBL News

In major European cities like London and Amsterdam, the housing shortage is a real concern, with demand driving the price of rentals higher every month. Home-share companies like Airbnb have been accused of making that problem worse because property owners are renting to short-term tourists instead of long-term residents. Those two cities actually have laws limiting the amount of time a homeowner can rent their property per year to short-term customers – 90 and 60 days, respectively.

Though those laws have been in place for a while, city officials were finding it hard to enforce them without the aid of Airbnb, who had previously been reluctant to join forces with them. However, recently the company has changed it’s tune, and is now pledging to bar renters on their site from exceeding those limits in London and Amsterdam. This is seen as a major victory for those in charge of meeting housing challenges head on in Europe.

Source: Stats, Maps n Pix

“This action should help ensure London gains the economic benefits of tourism that Airbnb creates without putting pressure on our housing supply,” said Tom Copley, a London politician. While hotels might continue to grumble about the volume of business Airbnb steals from them each year, it is undeniable that the cheaper, homier travel options the company provides has encouraged tourism like never before. Now that Airbnb has is actively working with city governments, that boom can only continue to grow.