July 22, 2011
From Apartments to Vacation Rentals
Property owners in San Francisco are converting large numbers of rental apartments into short-term quarters for tourists. Some are blaming the city's rent control laws for this "hotelization:"
Ms. Kelley predicted that more units would be turned into vacation rentals as landlords sought to avoid rent-control laws available to long-term tenants.
“The city has made its bed with restrictive rent-control laws,” she said, “but with a vacation rental you can avoid that.”
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Well, I guess part of the reason for this is also as an added income. I mean not only they can avoid restrictive rent-control laws, they could also gain from it especially during peak seasons wherein there are a lot of tourists.
Posted by: Kitty Dunes | Aug 17, 2012 2:17:03 AM