The Paris city government has created new regulations designed to restrict short-term apartment rentals as a strategy to address the French capital’s housing shortage.
According to an AFP report, the regulations cut the maximum number of days a primary residence can be rented from 120 per year to 90. Owners who make their residences available for short-term rentals must sign up for an online registry and provide proof that the properties are primary residences.
The fine for illegally changing a property’s designated from primary residence to holiday residence will double to $141,000. Platforms that enable users to violate the maximum number of rental days will be considered as “accomplices” and face fines.
The new regulations take effect on Jan. 1. There are an estimated 25,000 apartments in Paris that are now available for unauthorized short-term rentals.
Airbnb issued a statement calling the new regulations a “diversion” that fail to address the city’s housing challenges.
“In other cities that have put in place drastic measures of this type, such as New York, there has been no positive impact on the long-term rental market,” said the company.
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