On December 15, 2017 the California Coastal Commission rejected Laguna Beach's ban on short term rentals. Read the Orange County Register's article here: https://www.ocregister.com/2017/12/15/california-coastal-commission-rejects-laguna-beachs-ban-on-short-term-rentals-in-neighborhoods/.
I am not an economist or a lawyer, but likeely, if this holds, Laguna's rental and hotel markets could be transformed. Owners and short term renters will win. Long term renters and hotels will lose. Some longer term rentals will be converted into short term rentals. With fewer long term rentals, their rents will go up. With increased competition, hotels will have to charge less.
Watch this space for more information. Call me direct any time at 949-463-9152.
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