Boston Short-term rental regulations (AirBnB/VRBO) won’t decrease rent
Real estate professionals and experts say they don’t expect much of a reprieve for renters paying top dollar when as many as 3,000 units now with Airbnb and other short-term rental companies are put back on Boston’s long-term rental market next month.
“Many of these buildings began transitioning these Airbnb units to annualized rents or 3-6 month furnished programs well in advance, and that will minimize the number of units that may come (back) to traditional leasing programs,” said Jason Gell, president-elect of the Greater Boston Real Estate Board.
New city regulations that took effect in January bar nonresident property owners from renting out rooms or homes on short-term rental apps like Airbnb — a move housing advocates hoped might help to stabilize rents.
Boston’s Housing Chief Sheila Dillon on Tuesday told the Herald she estimates 3,000 units in Boston could return to the long-term market next month. By Dec. 1, people who aren’t registered with the city won’t be able to list their units on the short-term rental site.
“They’ll shift right into the rental market,” said Larry Rideout, who runs Gibson Sotheby’s International Realty.