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I have a friend in Santa Monica who rents 2 apartments. One he rents very cheap via some sort of rent control/housing assistance program. He then proceeds to re
by callmeed 11y ago
I have a friend in Santa Monica who rents 2 apartments. One he rents very cheap via some sort of rent control/housing assistance program. He then proceeds to rent the rooms out on AirBnB. He gets enough business to pay for the apartment he lives in and live frugally without having full-time employment.
It's hard to blame cities when this (and other) kind of abuse is going on.
- maw 11y agoI think it's easy to blame cities for rent control. Just shows what I know.
- aikah 11y ago> One he rents very cheap via some sort of rent control/housing assistance program He is probably not untitled to housing assistance if he has another apartment. He should make as much money as possible and stop that scheme because if he get caught doing that he may go to prison for fraud.
- beachstartup 11y agoit's probably a discounted sub-let from someone who has a lease from 10+ years ago. it's very common in santa monica.
- jboggan 11y agoThere's a lot of this going on because the incentive has been so strong, the arbitrage so great, and the penalties so rare. I think the city is striking an excellent balance with this vote.