Paris moves to restrict vacation rentals, Airbnb

PARIS, France — Officials and Parisians in the French capital are becoming increasingly wary of vacation rentals made popular by platforms like Airbnb.

Residents living in buildings where Airbnb apartments are being rented out complain of customers being disruptive to local communities. Such online platforms are hollowing cities out and driving away locals. One district has lost 3,000 locals in the past four years. As a result, the district's schools have shut three classes.

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In 2012, Airbnb​​​​​​​ had 4,000 areas in Paris listed. By 2015, that increased to more than 40,000 when the company's CEO was welcomed at city hall. But three years later, relations with city hall have soured.

The deputy mayor of Paris said Airbnb​​​​​​​ turned away from its original model. It changed from being a sharing economy to professionals buying homes and buildings in bulk to transform them into money-making businesses.

Paris is regulating that growth by requiring proprietors who list online to register. Parisians are only allowed to rent out the property they actually live in to tourists, and for a total of no more than 120 days a year.

The mayor is now lobbying for a blanket ban on tourist rentals, arguing that homeowners should rent out spare rooms instead of the entire property.

Airbnb​​​​​​​ France officials disagreed with his proposal, saying renting out property helps Parisians boost their income and afford rising living costs.

The new housing law is about to get parliament's final blessing. It will open the door for large fines to be levied against owners who do not conform with French regulations.

NBC