New Orleans considers halt to some short-term rentals
NEW ORLEANS (AP) - The City Council in tourist-friendly New Orleans has decided to halt the proliferation of one type of tourist housing: short-term rentals such as those facilitated by Airbnb.
Council member Kristin Palmer's measure affects people who rent out entire homes for short-term visitors. It imposes a nine-month moratorium on licenses - including renewals - while a study is done on the effects of short-term rentals.
Backers of the measure say large investors have bought up properties to turn them into vacation spots - driving up housing costs, driving out residents and threatening the historic character that draws tourists in the first place.
Opponents say Palmer's measure will hurt small investors, too. They warn of a ripple effect in the city's economy, hurting people who renovate and clean rental properties.