Malibu Looking to Increase Regulations on Short-Term Rentals

MALIBU, CA -- The Malibu City Council is looking into increasing regulations to short-term rentals to preserve the quality of life in city.

The Council is concerned that people would buy property in Malibu for the sole purpose of renting it out on services such as AirBnB. The issue was brought up at the Council's meeting Monday.

“I think this is sort of like a watershed event,” Councilwoman Joan House said. “It’s serious when somebody takes a home in a residential neighborhood and rents it out like a hotel.”

The city made a reported $1.2 million from the transient occupancy tax on short-term rentals in fiscal year 2016, which ended in June. That's half of the total TOT the city collected for the year.

Short-term rentals is currently regulated like long-term rental in the city but not all short-term rental property owners register with the city.

No decision was made at the meeting but the city council directed staff to look into the issue and come back with a proposal.

For more on this story, visit the Malibu Times.