As if the Boston Real estate market wasn’t already hot and competitive enough, online rental resources like Airbnb aren’t making things any easier for those living within the city limits. It’s estimated that nearly 2,000 housing units within Boston could be freed up for long-term renting with Mayor Martin J Walsh’s new proposal.
The Walsh Proposal
The proposal seeks to curb the abuse of Airbnb and other short-term rental businesses that landlords have taken advantage of. Boston area landlords are often turning to Airbnb rentals in order to make more money than they would if they were renting their unit to long-term renters. This in turn creates a housing shortage crisis, which ultimately raises long-term rental rates for residents.
Walsh and his administration have been discussing ways to combat this issue for a few years now and are finally ready to undergo hearings with the City Council.
“The Walsh proposal would restrict short-term rentals to 90 nights a year for owners who rent an entire apartment, condo, or house on a short-term basis. The city would set looser guidelines for owners who rent a spare bedroom,” stated The Boston Globe in their January 21st article.
Possible Backlash & Solutions
Of course, there is always going to be the expected backlash from major landlords in the Boston area as well as perhaps from Airbnb. However, the end goal is to simply restrict and moderate these short-term rentals, not eliminate them altogether.
As a Boston-area moving company, we’ve seen many young adults, married couples and small families move from the city to the suburbs as a result of increased rental prices. The majority have purchased a new home — mostly because after crunching the numbers it’s no doubt that buying a place is a better investment than renting in a market like this.
If you or someone you know is looking for a home mover in Boston, contact Mastodon Moving today for a free in-home moving estimate.