New regulations regarding medium-term leases go into effect Tuesday, but concerns from local homeowners and students have prompted City Council to consider revisions during next week’s meeting.

The practice of entities renting out units between 31 and 365 days is defined as medium-term leases, and city staff believes it removes valuable rental housing from the market. As a result, Santa Monica councilmembers adopted an ordinance in September requiring leases to be longer than 365 days. The new rules also state rental housing units cannot be furnished and advertising any lease of a residential rental unit that does not comply with these requirements is prohibited.

Read More: https://www.smdp.com/new-ordinance-takes-effect-tuesday-but-revisions-are-coming/197169