The short-term rental clamp down

Business Daily

BBC

News, Business

4.4 • 796 Ratings

🗓️ 27 August 2024

⏱️ 18 minutes

🔗️ Recording | iTunes | RSS

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Summary

Cities and countries across the world are bringing in measures to restrict the type of lets popularised by companies like Airbnb and Vrbo.

The regulations are to address concerns that homes in tourist areas are being used by visitors rather than being available for local people to rent on a long-term basis.

We hear from Barcelona where its hoped thousands of flats will now be available for local people, and we're also in Halifax in Canada, where restrictions been in place for nearly a year.

Produced and presented by Rick Kelsey

(Image: A couple pressing a doorbell on a street in Spain. Credit: Getty Images)

Transcript

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0:00.0	Hello, welcome to Business Daily with Rick Kelsey. Today, short-term lets are facing a crackdown around the world.
0:09.4	They entered the market without following any rules, and now cities are coming to understand what their impacts are.
0:17.2	The changes are coming from national governments, as well as regional and city authorities,
0:22.6	with the restrictions limiting rentals from platforms such as Airbnb and Verbo.
0:31.1	Some say the lats are ruining cities for locals because of the impact on the private rental sector. Others argue the
0:39.2	restrictions are taking away people's livelihoods. It's harming the economy and it's not
0:45.1	actually materially benefiting anything at all. Whatever your stance, a knock-on effect,
0:50.5	has been the rise of an unregulated rental black market.
0:54.8	Literally, these people just came out of an Airbnb around the corner.
0:59.2	It's not working.
1:00.3	I saw them go in a couple days ago, so it's clearly not working at all.
1:03.6	I actually thought it was so amusing.
1:05.3	I was like, I hope Rick gets here soon so he can see this happening live.
1:09.5	That's unbelievable.
1:11.7	The clamp down on tourist short-term lets around the world
1:15.2	and the impact on travel coming up on today's Business Daily.
1:21.0	This is Barcelona, central streets around the famous Las Ramblars.
1:27.3	Tourists are the target of the protests.
1:30.7	Some sit in restaurants while protesters aim at them with water guns,
1:34.6	holding signs telling them to go home.
1:37.7	Hundreds of people have been marching to reduce visitors
1:40.8	and close short-term lets permanently.
	...

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