While restrictive, law would legalize practice and reward good host
By Dennis Lynch | May 02, 2018 01:14PM
Los Angeles took one step closer to implementing home-sharing regulations on Wednesday.
The City Council unanimously approved a draft ordinance to limit home-sharing in the city to four months a year, potentially dampening profits for platforms like Airbnb.
The ordinance, three years in the making, would cap the number of days a host can rent out their primary residence each year at 120, but it would create a process for hosts in good standing with the city to exceed that cap. It also limits home-sharing to primary residences to prevent multifamily landlords from running their rental properties as de-facto hotels.
While it places restrictions on home-sharing, the ordinance would actually legalize the practice in the city, where it is currently prohibited but almost impossible to combat. For example, one of the only ways currently available to the city to pursue illegal short-term rentals was for an undercover police officer to book a room there, Councilmember Mike Bonin said during Wednesday’s hearing.
In contrast, the ordinance creates “simple and trackable ways” to enforce its rules, he said. Still, Bonin admitted the ordinance probably wasn’t perfect.
“This is Goldilocks we’re looking for — some legislations have been too hard, some have been too soft, we’re hoping this one is just right,” Bonin said. “We’re probably going to have to go back and revisit it, fix it, and refine it, [but we can’t continue to do nothing.]”
The vote did not institute the ordinance outright. The City Planning Commission and City Attorney will now review and write the actual ordinance, which will need to pass through two more committees before getting to the full Council for final approval, according to a representative for its author, Councilmember Jose Huizar.
If the current draft is made final, hosts will need to get a permit from the city to rent out their units. The city will revoke the permit if the host records two violations with the city, including nuisance violations.
The ordinance could pose a problem for home-sharing platforms like Airbnb, which accounts for the vast majority of the home-share listings in the city. Around 39 percent of the roughly 18,300 unique listings on the site over the last year were booked for more than 120 days of the year, according to the Airbnb tracker AirDNA.
The city’s Office of Finance estimates that Airbnb will pay $46 million in Transient Occupancy Taxes for the fiscal year ending in July, and that the cap will reduce that revenue, according to Fox 11. That means Airbnb itself will take a financial hit.
Wednesday’s meeting was well-attended by both home-sharing advocates and critics, many of whom reiterated many of the common talking points that surfaced during discussions of the ordinance. Some hosts said that home-sharing is the only way they can afford their mortgages or rents in an increasingly expensive city. Others said home-sharing drives up rents and takes housing off the rental market.
Lawmakers have found themselves trying to strike a balance between the two camps. That’s a big reason why the ordinance has taken so long to go before the full City Council. Huizar first proposed it in 2015 but it sat dormant in the PLUM committee until earlier this year when the committee approved it and sent it to the Council.
Striking Architectural Masterpiece in prime Hollywood Outpost. This beautiful home offers sweeping city ‘Jet-Liner’ views, from the Valley, Hollywood Sign and L.A. Basin, to downtown and all the way to Catalina. The luxurious, sun-filled interior includes 5 bedrooms, 4 full baths, a gym and two powder rooms. The outdoor living space features numerous view terraces as well as an 80’ infinity edge pool and spa. Newly constructed, the residence combines a modern design with carefully selected natural materials, including hardwood and limestone floors. Vaulted hardwood ceilings in the great room curve dramatically to the sky. Walls of glass and vanishing glass doors provide a seamless connection to natural environment, making it feel as if the entire city is a part of the backyard. An expansive dining area and a stunning gourmet kitchen are included in the great room. The kitchen features sleek, European-inspired cabinetry, Miele appliances and a large center island with counter seating. A floating hardwood staircase encased in glass showcases the architect’s focus on bringing natural light inside. On the lower level, a large family room with high ceilings opens to an expansive, partially covered patio. The master suite offers beautiful views of the downtown skyline, a resort-style bathroom, travertine walls, hardwood ceilings and floors. Located nearby everything L.A.has to offer, this distinctive home is certain to become a part of the city’s rich architectural heritage. Contact Shelton for your private showing.
Talking about toilets 🚽🚽🚽🚽🚽🚽 today on #WilderWednesday 🏡 whoever said real estate is always glamour obviously has never truly worked in the biz. 😜 Watch and comment 👇👇on your guess of how many gallons the old toilets used to use?
On this #WilderWednesday we are discussing the Restoration Hardware membership! Can’t beat these awesome benefits. 🏡😍 For a $100 annual fee, member benefits include: •25% savings on all full prices items •Complimentary services with RH design •One-on-one consultations with design team •Concierge service to manage orders •Preferred financing plans on RH credit cards Contact Logan @ RH Modern in West Hollywood!
The daughter of billionaire Seagram heir Charles Bronfman sold her Los Angeles estate for $85 million on Thursday, according to sources familiar with the transaction.
The 19,000-square-foot, minimalist-style mansion, designed by British architect John Pawson, sits on about 4.6 acres in L.A.’s Bel-Air neighborhood. There’s also a roughly 6,600-square-foot, five-bedroom Paul Williams-designed guesthouse on an adjacent parcel, according to people familiar with the property. The properties were never publicly listed for sale but quietly shopped around by real-estate agent Kurt Rappaport of Westside Estate Agency, sources said.
The design of the main house, built in 2009, resembles two cubes stacked on top of one another, with the top cantilevered over the lower level. It includes five bedrooms, eight bathrooms, a theater, a gym, a spa and a double-height dining room. Three of the bedrooms have terraces; the master suite has a hot tub and a fire pit. A subterranean level includes staff quarters and a children’s playroom.
The sellers are philanthropists Ellen Bronfman Hauptman and Andrew Hauptman, who are both 49. Together, the couple runs private-investment firm Andell Inc., a family office that manages investments in real estate, and private and public companies. Mr. Hauptman is the owner and chairman of Major League Soccer’s Chicago Fire Soccer Club.
Ms. Hauptman’s grandfather Samuel Bronfman was a Russian immigrant to Canada and started a small distillery that eventually merged with Seagram.
The couple bought the property in 2002 for about $20.75 million, records show.
The identity of the buyer is not known. The Hauptmans didn’t immediately respond to a request for comment.
We’ve researched hundreds of Los Angeles real estate agents’ social media channels and went through a certain process to select the best. We began with finding Los Angeles real estate agents through different mediums and then looked at objective data regarding the Los Angeles real estate agents’ social media presence across various social media channels. Lastly, we made sure that all the Los Angeles real estate agents who made it to the final list have great social media presence based on subjective variables.
With that said, we present to you the Top 20 Los Angeles Real Estate Agents On Social Media in 2018!
Click below for full article!
Beverly Hills Hotel Hires Mandarin-Speaking Personal Shoppers Amid Chinese Tourism Boom
With an average of nearly $7,000 spent by Chinese travelers per visit to the U.S., businesses from Peninsula Beverly Hills to the Four Seasons are responding by offering specialized menus and access to China's largest mobile payment services.
Donald Trump's travel bans may have rattled the U.S. tourism sector — arrivals are down 5.3 percent since 2016, according to the National Travel and Tourism Office — but China is bucking the trend. "Chinese travelers don't seem to care about" such criticism (the president accused China of "raping" the U.S. in trade), says Lin Wang of the trade group National Tour Association. "Many like Trump because he used to be a celebrity." Thus, it's no surprise that L.A. is a top overseas market. While 2.9 million Chinese visit the U.S. annually, according to U.S. Travel's David Huether, 1.3 million travel to California. L.A. is a gateway city with a large Asian population and attractions, from Universal Studios to the Hollywood sign, that appeal to the Chinese. In 2016, L.A. became the "first U.S. city to welcome a million visitors from China," says the Los Angeles Tourism and Convention Board's Kathy Smits.
It's not just the number of travelers, it's how much they spend. According to Huether, the average spend per person per visit to the U.S. in 2016 was $2,546. The Chinese spend $6,901 on average.
Locals have taken note. The L.A. Tourism & Convention Board has for the past three years run a China Ready program (recently rebranded as Nihao China) to encourage tourism; 150 businesses, from The Getty Center to Malibu Wine Safaris and Wilshire Limo Services, have participated. Peninsula Beverly Hills, known for monogramming pillowcases in Chinese characters for visiting guests, offers a Bespoke Beverly Hills experience guided by a Mandarin-speaking personal shopper with unlimited access to luxury boutiques ($1,045). The Four Seasons Los Angeles at Beverly Hills — which has Chinese menus and a Chinese event coordinator in addition to Chinese-style slippers, robes and kettles in rooms — creates custom content on its channel on WeChat, China's dominant social media platform. According to Four Seasons director of sales and marketing Greg Velasquez: "Our Chinese clients want to see content that isn't necessarily about Chinese-related items and want to learn about the destination, both on property and off," which can include anything from an interview with Four Seasons florist Jeff Leatham, translated into Chinese, to Beverly Hills segments. The Chinese market "has surpassed every other market except Canada and the U.K.," he adds. In December, Luxe Hotels, located in West L.A., downtown and on Rodeo Drive, will begin accepting Alipay and WeChatPay, China's largest mobile payment services. Says Luxe's Adam Sydenham, "With year-on-year growth, it seemed to be the next sensible step."
As for shopping, a favored pastime, Barneys New York, Breguet and Cartier are decorating storefronts for Chinese New Year, and Rodeo Drive stores from Hermes to Bulgari have on premises at least one Mandarin speaker. Such luxury brands as Chanel and Burberry will set aside designated pulls likely to sell well to the Chinese, from Bottega Veneta's $550 China Red Intrecciolusion large tote to iconic Burberry plaid items that come in sizes XS and XXS.
Then there are those who find Los Angeles so appealing, they wish to set down roots or purchase investment properties. Steven Dubin, a real estate agent and investment advisor at Douglas Elliman, says that 25 percent of his sales have been to Chinese buyers, a tenfold increase over the past four years. "They want to be as close to ground-zero Beverly Hills — Rodeo Drive — as possible and only want brand-new or never-lived-in homes," he says.
According to Shelton Wilder, an agent at Douglas Elliman — who works with Knight Frank, an international agency with offices in Hong Kong and Shanghai, to attract mainland China and Hong Kong prospective buyers: "The Chinese are very particular with wanting off-market and unseen properties." She adds that Chinese buyers are "very direct and will quickly say yes or no."
We are in full swing in the last quarter of 2017 and it's holiday time! Hope you enjoyed Halloween, we went as the Ghostbusters!
There are lots of fun events upon us in Los Angeles. One of my favorites is the Holiday Walk on Montana Ave. My family and I will be singing carols and supporting the local shops. Thanksgiving, turkey time, is such a blast and we will be attending a few "Friendsgivings" this year. I'm bringing my new delicious savory recipe of Loaded Cauliflower "Faux-Tato" Bites! YUMMY!!! Fall has been a successful time and lots of new listings coming up in the new year.
The most exciting news....drum roll please....I am now part of the Douglas Elliman family, the largest privately owned real estate company in the world. It has always been my goal to be a part of the Douglas Elliman exclusive brand that generated $27.2 billion in sales in 2016 and it will continue to help my business grow while benefiting my clients. I would love to help you with any of your real estate needs including buying or selling personal, investment, or commercial properties. Feel free to reach out, I'd love to take you to coffee!
NEW ELLIMAN LISTINGS I LOVE!!
Try the loaded Faux-tatos this Thanksgiving!
- Nonstick cooking spray, for pan
- 1 large head of cauliflower, cut into florets (about 3 cups)
- 2 tbsp. extra-virgin olive oil
- kosher salt
- Freshly ground black pepper
- 1 tsp. garlic powder
- 1 c. shredded Cheddar cheese
- 5 slices bacon, cooked and crumbled
- 1 tbsp. finely chopped chives
- Preheat oven to 425° and grease a large baking sheet with cooking spray.
- In a large pot of salted boiling water, cook cauliflower until fork tender, about 5 minutes, then drain and pat dry.
- Spread florets out in a single layer on the prepared baking sheet and toss with olive oil, salt, pepper, and garlic powder. Using a potato masher, or the bottom of a small glass, lightly smash the cauliflower florets.
- Top each smashed cauliflower floret with a pinch of cheddar cheese and some bacon, then bake until cheese is melted and crispy around the edges, about 15 minutes.
- Sprinkle chives over cauliflower and serve warm or at room temperature.
PLEASING CLIENTS ONE HOUSE AT A TIME!
3605 Kelton Avenue, Los Angeles
3 Bedroom, 2 Bathroom, 1,064 Sq. Ft.
Shelton was a dream to work with from start to finish. I was having to sell my home while living in another state and she went above and beyond to help me with the process. I received 8 offers in 5 days and I closed over our asking price. It took just 28 days to officially sell my place! I highly recommend Shelton as a realtor and would use her again.
- Meredith S.