Here’s the short version of what’s going on. Renting units for fewer than 30 days outside of resort zones has been illegal
for decades, but the city failed to enforce the law. They are now cracking down on the violators. This new law took effect Aug. 1 and it allows the city to use advertisements as evidence of illegal activity – a move that threatens the shutdown of about 5,000 rentals. Violators could face fines of as much as $10,000 a day. The day after the law took effect, the city said there was a nearly 37% decrease in listings compared to two weeks prior. Click here to read the full article
