Obligation to register hosts and share data on overnight stays with local authorities. These are two of the key measures contained in the new EU regulation, which aims to put an end to the wild west of the short-term rental market dominated by platforms such as Airbnb, Booking or Expedia. The main aim of the law, which has been given the green light by Member States and the European Parliament, is to give local authorities the tools to take action against problems associated with the increase in the number of accommodation for travelers in cities. especially the most touristic ones.
This boom is considered among the main factors of the increase in rental prices, which in many cases makes them unaffordable for a large part of citizens (consider the example of Barcelona) and is also the cause of “tourist” gentrification. entire neighborhoods that often pit homeowners and residents against each other. It is the responsibility of local rulers to bring order to the Far West, but they too complain about the difficulty of finding the information needed to plan their interventions. EU regulation should facilitate this search for information: The rules provide for the obligation of owners to register each of their properties used for short-term rental on a dedicated nationally established website.
Online registration must be free or at most have a prorated cost. Once the procedure is completed, homeowners will be given a registration number that will allow them to rent their property through platforms such as Airbnb or Booking. “The competent authorities will know the identity of the guest and be able to verify their information,” the European Parliament writes.
Online platforms must ensure that the homeowner’s registration number allows users to identify the property featured in the ad and that the information provided is reliable and complete. Platforms will be required to make “reasonable efforts” to conduct random checks on this information and avoid abuse and fraud. Authorities may suspend registration numbers, require platforms to remove illegal listings, or impose sanctions on non-compliant platforms or hosts.
Under the regulation adopted in Brussels, member states will establish a single digital access point to receive data on host activities from the platforms on a monthly basis (e.g. specific address, relevant registration number, listing URL). A less burdensome regime is envisaged for micro and small platforms with an average of 4,250 or fewer ads. “These data will be used to compile statistics and allow public authorities to better assess the situation on the ground and improve tourism services in their area,” explains the Parliament.
“Cities are grappling with a boom in illegal holiday rentals,” says Green MP Kim Van Sparrentak. “This is putting pressure on the liveability and affordability of cities across Europe. So far, platform rental companies have refused to share data, which has made things difficult.” To enforce local regulations. Fortunately, this law puts an end to that and gives cities more control. We prove that it is the cities themselves that set the rules, not the big tech companies,” concludes the ecologist parliamentarian.
The regulation will now go back to the European Parliament and the Council of Member States for final approval. Once the law is published, countries will have 24 months to implement the law on their territory.
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Source: Today IT
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
