Portland plan on how Airbnb can fund affordable housing

Portland City Commissioner Dan Saltzman wants to shoot the proverbial two birds with one stone.

In June, the city’s housing commissioner will propose to legalize short-term rentals brokered by web sites such as Airbnb and VBRB [VRBO} by requiring the operators to pay local lodging fees.

In exchange, the city would dedicate 25 percent of its share of lodging taxes to support creation of low income housing in a bid to head off complaints that vacation rentals remove units from the inventory of affordable housing, under Saltzman’s proposal.

Elsewhere in the U.S., short-term rentals have exacerbated housing shortages as owners evict existing tenants in order to turn a larger profit advertising units to tourists via sites such as Airbnb and VBRB [VRBO].

BizJournals

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