Short Term vs Long Term Rental in Los Angeles?
I am a newbie investor in the Los Angeles area who recently purchased a unique duplex, centrally located (Mid Wilshire/Mid City). The property is actually a large front house (7br) with a studio guest house in the back. I originally bought the pIace thinking that I would live in the back house and Airbnb the front, but I'm starting to reconsider as a result of everything I'm reading about the new short term rental laws as well as the amount of work it will take to turn 7 bedrooms. The property is centrally located and has a lot of unique features, but it's certainly not a luxury rental. Can anyone comment on the legal status of Airbnb in this part of the city, and/or whether it would make more sense to get a long term renter vs my original short term strategy?