December 9, 2016 Comments Off on Airbnb Drops the Sword, Collaborates with City Regulators Views: 316 Bay Area, California News, Connect Classroom, National News, New York, Northeast

Airbnb Drops the Sword, Collaborates with City Regulators

As Airbnb continues its seemingly unstoppable growth, the start-up has had various run-ins with city regulators and housing advocates who believe the model contributes to pricing residents out of permanent housing. This week, Airbnb released a report that states it’s shifting its game plan to work alongside city regulators to avoid further legal cases. In the same breath, Airbnb conceded to limit rentals in London and Amsterdam, and surrendered its lawsuit against the city of New York.

The report echoes what the company has said in the past, namely that it understands rules vary on a city-by-city basis, but it also announced that it wants to collect taxes and help cities cap the number of nights that guests can rent. One of the biggest fights thus far has been having hosts register that they put their property up on Airbnb, which will continue to be a struggle.

Some of those who oppose Airbnb believe this is the company backing down and right-sizing. Although Airbnb has yet to offer an IPO, it is valued at $30 billion.

Read More at Bloomberg

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