Despite making up less than one percent of the Los Angeles housing market, vacations homes bring an enormous economic impact to local neighborhoods, homeowners, and small businesses.
We are dedicated to being your voice for Los Angeles vacation rentals, advocating for reasonable regulation and responsible management. We also serve as a resource for our coalition members, providing:
survey of 250 HomeAway short-term rental owners and managers, 2018
TXP, Inc. Economic Impact of Short Term Rentals in Los Angeles, 2017
Although they make up less than one percent of the Los Angeles housing market, vacation homes bring about enormous economic impact to the local communities and neighborhoods. According to a recent economic report:
As a single mother financially struggling to raise two sons and after the economic crash of 2008 … it has been a life saver in terms of stress and worry.
I was in my late fifties when I lost my job in the economic crash of 2008. Being able to vacation rent my property saved me financially from inevitable bankruptcy and foreclosure.
I am over 60, it is difficult to begin a new career this late in life and I am a short term rental host. I take it seriously as a job. I rely on it for financial solvency. And I provide an important service promoting tourism in Los Angeles.
We were in a financial crisis because of the economy and were facing the possibility of losing our home of 25-yrs where we are raising our daughter. Short-term renting out our guesthouse has been a Godsend.
I resigned my job so I could take care of my mother. Renting my home part of the year covers the mortgage while I am out of state taking care of my mom. I would not be able to do that without renting my home.
Very happy with the rental income and the neighbors never have a problem. We vet all our rental requests very carefully.
I am especially proud to welcome new travelers to our beautiful community. All my neighbors like it too, there is mutual understanding, respect for local ordinances, communication and appreciation.
The income has allowed me to make further improvements to my property that my neighbors appreciate. I also donate my place annually at a silent auction for a cancer charity.
The funds generated from the venture has allowed me to continue to make improvements to a property that was previously an eyesore on the street and a magnet for trash to be abandoned on the property. My neighbors love what I have done for the beautification of the street.
We employ a crew of house cleaners, gardeners, and various handymen who benefit from our rental, supporting the local economy.
I decided to rent my property and it has allowed me to live in the house I grew up in, fix it little by little, and to even fund a business on the site. We now give jobs to about 16 people (between independent contractors and employees) … all the stores and restaurants in our neighborhood benefit greatly!
I own and run a small dog resort kennel, it is very seasonal and a luxury item for dog owners. During our slower times, my vacation rental has been a huge financial support to keep staff working year-round. Sadly, we do get pets abandoned at the property, so the income from the vacation rental goes to support spaying and neutering, medical costs and re-homing. Because of the unique nature of our business, our vacation rental is dog friendly; a very slim market in need of more options. We also service local residents during home remodels and termite tenting. Our neighborhood is not a traditional tourist destination. However, due to the popularity of vacation home rentals, we have hosted visitors, students, medical interns that have come to the area and bring new business to the community. We have enjoyed every moment of serving our visitors. If vacation rentals were banned in our city, it will be devastating to our family and those that we employ and support. I am willing to work with the City of LA, support reasonable regulations, apply for permits and/or any verification.
My name is Heidi and I live in Venice Beach. Short term rental has allowed me to take care of my mother and daughter as a single parent, and has allowed me to retain my property and keep my family in a home. I rent out one of my two units in the back. I am trying to retain this unit for my mother when she moves back in a year. Without short-term renting this unit, I would be forced to keep the tenant and my mother would not have a home. I am able to give her the excess money to support her while she is living near my sister’s house and helping with her daughter.
We have a second home in the Sunset strip area. We have been renting our home out and been paying LA occupancy tax for the past nine years. This income is crucial for us as it provides a nest egg for our retirement we are in our late 40s and 50s. We also have 4 young children and the income pays for a good portion of their expenses. Property tax bills are over $22,000 a year and don’t know how we would be able to pay this along with the repairs and maintenance of the home. This income also allows me to be a stay at home mom which is crucial since we don’t have family in the area. We are in constant contact with our neighbors to ensure they are not bothered by the rental of our second home. We also make clients abide by a strict 5 page contract which doesn’t allow loud noises, parties, gatherings of any kind and limits the number of guests allowed onto the property. We desperately hope you will reconsider your proposal and we ask for your empathy when reviewing your decision. This would greatly affect our family.