You may notice fewer options if you go to book an Airbnb rental in London or Amsterdam in the near future.
Yesterday, the popular home-sharing company announced it will start enforcing limits to private home rentals in both countries.
In London, Airbnb said it will “introduce new and automated limits to help ensure entire home listings in London are not shared for more than 90 days” unless hosts prove they have permission to share their home for longer.
The new restrictions will take effect in spring 2017.
Meanwhile, in Amsterdam, the company said that it will work to ensure that homeowners can only rent their homes out for a maximum of 60 days per year unless the owners have a license.
The country had already introduced this limit, but come January 1, the site will feature automated tools to ensure that this is enforced.
The idea is to cut down on what have essentially become illegal hotels that have contributed to housing shortages, among a slew of other concerns.
As The Associated Press reports, a typical Airbnb host in Amsterdam earns 3,800 euros ($4,041) by sharing their space for 28 nights a year. In London, a typical Airbnb host earns 3,500 pounds ($4,408) by sharing their space for 50 nights a year.
This move could potentially set a precedent for the Canadian market, especially since Airbnb is contributing to the Toronto housing crisis in a big way.
Airbnb house rentals have surged in Toronto.
As the city’s art, culture and culinary scenes continue to boom, attracting travel-savvy visitors, a short-term rental through Airbnb often makes more economical and practical sense than a hotel does. On the other side of the equation, renting out your empty place on a short-term basis is often way more financially lucrative than leasing to long-term tenants.
According to Trip Advisor data, the average two-bedroom home in Toronto will typically rent for $1,300 a week.
This, of course, isn’t ideal for Torontonians who are looking for places to live. Anyone who has been in the market for a Toronto rental knows that finding a place is almost as competitive as the buyers’ market is. And, as we reported last month, an increasing number of young families are living in apartment and condo buildings because they can’t afford to buy houses in the city.
Back in July, Fairbnb was formed to take aim at Airbnb, urging Toronto councillors to regulate online short-term rentals in the city.
Aside from its contribution to the affordable housing crisis, they also highlight how Airbnb is taking away from Toronto’s tourism industry, as the city’s waterfront hotels remain vacant.
While Airbnb is the only way some wanderlust-filled millennials are able to travel in the first place, it’s also the reason it’s such a pain in the ass for the same people to find a decent rental in the city. Like any disruptive new technology, Airbnb clearly isn’t without its kinks.