Thanks for the comment! I like sharing what’s going through my mind at the time because it helps me form my own thoughts and if it helps people along the way, then that’s also great.
Hello Jeffrey, I was wondering if you had any experience in Los Angeles County? 2 of my partners are getting nervous due to all the new regs. I only want to do rental arbitrage (I lease the apt, and I rent it out) I figure, as long as the owner is ok with it and I have all the proper insurances and lease addendum, I should be good, right?
Will airbnb cover you if a long term guest decides he doesn't want to leave and stays?? They would have renters rights and in LA County they're not enforcing evictions. I think this is why short term stays are preferred to many airbnb hosts.
Although this has never happened to me, when I called Airbnb to ask them this question, the customer service representative said that Airbnb would payout for your lost bookings as long as the bookings are on your calendar and you are not able to turn over the place due to the squatter.
This information is false. Look up the news story happening to the dentist in LA who rented to a woman long term. The woman refuses to leave unless she is paid a $100,000 relocation fee. She has renter's rights and Airbnb is not liable.
Hi just found your channel and subscribed. I just finished my ADU in LA and wanted to do Airbnb but just found out that California is prohibiting short term rentals. I live in the house in front and my adu is in the back. How were you able to get around the short term rental ban. Can you pls help? Do you do consultations? I invested a lot on this adu and renting a month won't be able to even pay for the loans. Pls help! Thanks
Hello and welcome to the channel! I don't offer any consultations, but if you find my information helpful, please use my Airbnb referral link when you sign up to host. Also, feel free to email me at jeffreyyamada@gmail.com if you have additional questions. So there is no short term rental ban in California. Los Angeles has a short term rental ordinance (cf 14-1635-s2) that regulates short term rentals. It's a lot to go through so I'd recommend you read it on your own. Airbnb has a really nice summary in this article. www.airbnb.com/help/article/864/los-angeles-ca Some of the key points are that you have to register with the city and pay permit fees. You have to live on the property (which you do) and you have to not live in a rent controlled area. Additionally, you probably signed a covenant with the city when you built the ADU. I'm pretty sure there's probably language in there that says that you agree not to rent out your ADU as a short term rental. I'm not saying you should breach your covenant, but I'm not sure how strict the enforcement of that is and to me, the enforcement seems like it would be very difficult for the city. If you wanted to get around the covenant, you can live in the ADU and rent out the front. On top of everything else, you might also have an HOA that does not allow for short term rentals. However, you can always list on Airbnb for 30+ day rentals to get around all the restrictions. With 30 day+ rentals you are basically a landlord and the short term rental restrictions no longer apply.
Thank you for your leadership. Greatly appreciated.
When Jeffery speaks about Airbnb, I click like
Haha nice!
i like the kitchen cam setup
Really appreciate the info you share. I get the sense you want to help people and not just sell us something
Thanks for the comment! I like sharing what’s going through my mind at the time because it helps me form my own thoughts and if it helps people along the way, then that’s also great.
Great tangents
Hello Jeffrey, I was wondering if you had any experience in Los Angeles County? 2 of my partners are getting nervous due to all the new regs. I only want to do rental arbitrage (I lease the apt, and I rent it out) I figure, as long as the owner is ok with it and I have all the proper insurances and lease addendum, I should be good, right?
Will airbnb cover you if a long term guest decides he doesn't want to leave and stays?? They would have renters rights and in LA County they're not enforcing evictions. I think this is why short term stays are preferred to many airbnb hosts.
Although this has never happened to me, when I called Airbnb to ask them this question, the customer service representative said that Airbnb would payout for your lost bookings as long as the bookings are on your calendar and you are not able to turn over the place due to the squatter.
@@JeffreyYamada Interesting. Thank you for your response!
This information is false. Look up the news story happening to the dentist in LA who rented to a woman long term. The woman refuses to leave unless she is paid a $100,000 relocation fee. She has renter's rights and Airbnb is not liable.
Aren’t short term stays 7 days or less better for tax purposes?
How so?
Company asks to be back to office once a week
Hi just found your channel and subscribed. I just finished my ADU in LA and wanted to do Airbnb but just found out that California is prohibiting short term rentals. I live in the house in front and my adu is in the back. How were you able to get around the short term rental ban. Can you pls help? Do you do consultations? I invested a lot on this adu and renting a month won't be able to even pay for the loans. Pls help! Thanks
Hello and welcome to the channel! I don't offer any consultations, but if you find my information helpful, please use my Airbnb referral link when you sign up to host. Also, feel free to email me at jeffreyyamada@gmail.com if you have additional questions.
So there is no short term rental ban in California. Los Angeles has a short term rental ordinance (cf 14-1635-s2) that regulates short term rentals. It's a lot to go through so I'd recommend you read it on your own. Airbnb has a really nice summary in this article.
www.airbnb.com/help/article/864/los-angeles-ca
Some of the key points are that you have to register with the city and pay permit fees. You have to live on the property (which you do) and you have to not live in a rent controlled area.
Additionally, you probably signed a covenant with the city when you built the ADU. I'm pretty sure there's probably language in there that says that you agree not to rent out your ADU as a short term rental. I'm not saying you should breach your covenant, but I'm not sure how strict the enforcement of that is and to me, the enforcement seems like it would be very difficult for the city. If you wanted to get around the covenant, you can live in the ADU and rent out the front.
On top of everything else, you might also have an HOA that does not allow for short term rentals.
However, you can always list on Airbnb for 30+ day rentals to get around all the restrictions. With 30 day+ rentals you are basically a landlord and the short term rental restrictions no longer apply.