Tensions are rising in Geneva over the increasing number of short-term rentals through platforms like Airbnb and VRBO.
Residents accused Council of inaction over the issue. According to some of those residents who spoke at the meeting, pleas to property owners have been ignored. Now, they want to see regulatory action from the City.
City officials, including Ward 5 Councilor Laura Salamendra, expressed concern over the impact of short-term rentals on the housing market and community livability.
Salamendra noted that the lack of regulations allows these rentals to flourish, which can have long-term effects on housing availability and affordability. These rentals can yield significant profits, with some making up to $4,500 a month, three to four times more than long-term rentals, while avoiding the city’s 3% occupancy tax.
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