Under siege by some locals, San Diego’s short-term rental market is raking in millions of dollars for the city and supporting more than 1,800 jobs, a new study contends.
A study by the National University Institute of Policy Research – commissioned by AirBnb -- looked at the economic impact of such rental companies as Airbnb and VRBO.
It found that local short-term rentals, including beachfront condos, downtown condos and neighborhood spots, generate $190 million in revenue, said Erik Bruvold of the National University Institute of Policy Research. Bruvold also said these short-term rentals bring in millions of dollars in taxes for the city.
"We’ve also seen at the same time hotel occupancy rates and revenue per available room also go up dramatically, and so what seems to be happening is there's a big expanding pie going on and there's enough demand to support both kinds of industries," Bruvold said.
This comes as a local coalition is calling on the San Diego City Council to implement stricter restrictions for short-term rental users, saying they are fed up with “noise, traffic and other neighborhood nuisances.”
The group called Preserve Our Communities issued a statement last month that it wants the city of San Diego to adopt these guidelines for rentals: a minimum of 21 days in unoccupied properties and for the city to place a cap on the number of days properties that can be used as short-term rentals.
The group also wants the city to require short-term rental properties to comply with the same health and safety regulations required at hotels and motels.
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The coalition also wants the city to dedicate a funding source for code compliance as well as give neighbors the authority to take legal actions against nuisance property owners.
Bruvold said he hopes the results of the study will show the value of the short-term rental market.
"The study just makes it clear, it's here to stay, we just want that common sense regulation applied," Bruvold said.
