Bloomberg Tax
Dec. 10, 2019, 7:34 PM

Airbnb, Santa Monica Reach Deal on Short-Term Rentals

Sam McQuillan
Sam McQuillan

Airbnb reached an agreement with Santa Monica to fund affordable housing efforts and ensure all Airbnb listings are in compliance with the city’s short-term rental laws.

Airbnb Inc. on Dec. 10 announced the settlement, which establishes the city’s first specific guidance for a short-term rental business. Under the agreement, Airbnb must take down illegal short-term rental listings as directed by the city, charge renters a $2 fee per night to support affordable housing, and remove multiple listings that exceed the city’s home-sharing limit.

The $2 fee is similar to fees Airbnb collects in other cities, according to a company ...

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