ReportWire

Tag: listing

  • Rampant post-fire price gouging went unpunished, report alleges

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    When the Palisades and Eaton fires displaced thousands of tenants last year, landlords across L.A. jacked up rental prices while the flames were still burning. Officials were quick to respond, vowing crackdowns on price gouging.

    A new report asserts that many of those threats were toothless.

    Published by activist organization the Rent Brigade, the report analyzed L.A. County’s rental market in the year after the fires. It found 18,360 potential examples of price gouging in listings, but only 12 lawsuits filed so far.

    Gov. Gavin Newsom put price-gouging rules into effect on Jan. 7, the day of the fires. They’ve been in place in L.A. County ever since, and they’re currently extended through Feb. 27, 2026. The protections prohibit landlords from raising rents by more than 10%, but many seemed undeterred by the rules.

    In the week after the fires, one agent told The Times that their landlord client said they “doubt it’ll be prosecuted,” ordering the agent to raise the price more than 10%. A Beverly Grove condo jumped from $5,000 to $8,000. A property in Venice listed for 60% more. A Santa Monica home got a price bump of more than 100%.

    “I was shocked by how many clear, unavoidable cases of price gouging there were,” said Philip Meyer, a volunteer with the Rent Brigade who co-authored the report. “A lot of folks didn’t seem to think there’d be any accountability, so they were breaking the law in plain view.”

    Meyer helped design a tracking system that scrapes data from Zillow to detect price hikes greater than 10%. He said price gouging predictably skyrocketed in the month after the fires, but then it continued all year long as enforcement lagged.

    “I’m not sure if people realized that price-gouging laws are still in effect,” he said.

    Illegal listings were scattered across the Southland, but the report said that 42% were found in L.A. County’s 3rd District, which covers Pacific Palisades, as well as the surrounding communities where many fire victims tried to relocate, including Malibu, Santa Monica, Venice and Calabasas.

    Last year, the Rent Brigade launched a campaign to inform tenants that they may have been victims of price gouging. Using the Zillow data, they sent out 2,000 postcards to addresses tied to suspect listings detailing their rights; Meyer said the goal was to help tenants contact authorities for enforcement.

    The report claims that as much as $49 million in excess rent may have been collected over the last year, an estimate found by totaling up all the asking prices above the legal limit. However, the actual number is likely significantly lower, since the $49-million mark assumes all 18,360 illegal listings were rented at the advertised price.

    It’s also likely that the 18,360 number is slightly lower, since data pulled from Zillow listings don’t provide information on actual leases signed — and don’t always provide the full picture.

    For example, a Zillow listing could show a previous asking price of $1,500 for a home last year, and an asking price of $6,000 a year later, which would register as a 300% increase. However, the $1,500 asking price could’ve been for a single room in the home, not the entire home — in which case the $6,000 wouldn’t be considered price gouging.

    However, it’s clear that thousands of landlords tried to take advantage of increased demand created by the fires, which is why officials at the state, county and city levels all vowed crackdowns.

    There have been plenty of legislative efforts to help enforce such a crackdown. In February, L.A. County raised the price-gouging penalty from $10,000 to $50,000, and the L.A. City Council raised the maximum penalty to $30,000. In July, the L.A. County Board of Supervisors made it easier to punish landlords by allowing the Department of Consumer and Business Affairs to bypass the district attorney and directly fine price gougers.

    Other laws were proposed, but fizzled out. A state law sought to raise the maximum fine for price-gouging and expand protections to hotels and other services, but it died in the Senate Appropriations Committee. Another state law sought to require listing platforms to remove listings suspected of price gouging, but it was vetoed by Newsom in October.

    Spokespeople for the city, county and state offices that deal with price gouging responded to the report’s claims that they weren’t doing enough.

    “As part of our department’s work to protect Californians following the fires, California DOJ formed a Disaster Relief Task Force, sent 753 warning letters to hotels and landlords who were accused of price gouging, and filed criminal charges against six defendants, including Los Angeles real estate agents and a landlord,” said California Department of Justice spokesperson Elissa Perez, who works with state Atty. Gen. Rob Bonta. “These are cases where the provable facts supported charges.”

    The report claims that L.A. County Dist. Atty. Nathan Hochman, who issued strong statements condemning price gouging, hasn’t prosecuted a single price-gouging case. A statement from his office acknowledged that no cases have been filed, but pointed to collaborations with the city and state, which have both filed price-gouging lawsuits.

    City Atty. Hydee Feldstein Soto’s office has filed seven price-gouging lawsuits — three civil, four criminal — ranging from individual landlords to housing companies such as Blueground and Airbnb. Bonta’s office has filed five, all against individual landlords. All 12 cases are currently pending or awaiting trial.

    Ivor Pine, a spokesperson for Feldstein Soto’s office, called the report inaccurate; the report claimed the office investigated only 1,100 cases but it actually investigated thousands more, which were included in its lawsuits against Airbnb and Blueground. He also questioned the report’s methodology, adding that relying exclusively on Zillow listings can be misleading and suggest price gouging that’s not actually happening since it only shows advertised rents, not actual leases.

    Pine added that enforcement efforts are ongoing and that all cases filed seek restitution of hundreds or thousands of dollars paid to victims.

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    Jack Flemming

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  • Short-term home rentals are dropping in L.A. ‘The rules are too much’

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    For the last four years, Katherine Taylor rented out her Westside guesthouse on Airbnb. She came to rely on the extra income at a time when it felt like everything was getting more expensive.

    But this spring, she took the listing down.

    “I’m out,” Taylor said. “The rules are too much. All these new regulations kept popping up, and it felt like it was only a matter of time before I got fined.”

    Across the L.A. region, many people who rent out their homes for income seem to be changing their preferences. Short-term rentals are much more lucrative than longer stays, but the steady turnover often creates headaches for landlords, and increasingly they are in the crosshairs of local ordinances, including the risk of fines.

    Because of this and other factors, short-term rental registrations have dipped over the last year.

    Last July, there were 4,228 active Home Sharing registrations in the city of L.A., according to the Planning Department. This July, there were 3,972 — a 6% decrease.

    Short-term rental software platforms show a decrease in listings as well, to varying degrees. In analyzing a sample set of short-term rentals in the L.A. metro area, Hospitable estimated a 44% drop in listings year over year, with steady declines each month. AllTheRooms reported a 13% drop in Airbnb listings across L.A. County over the same stretch.

    The data sources vary, since companies have different access to listing data. AirDNA reported an 8% increase in Airbnb and VRBO listings in the L.A. metro area over the last year, but noted a decrease since January fueled by big drops in fire markets: a 56% decrease in Altadena, 36% decrease in Pacific Palisades and 25% decrease in Malibu.

    Expert opinions differ on the cause of the drop-off, but the fires are definitely a factor. Thousands of homes burned down in the Palisades and Eaton fires, taking many rentals off the market. But in the wake of the disaster, many short-term rentals were converted to mid- or long-term rentals to house fire victims.

    Other hosts are opting for mid-term rentals — stays of longer than 30 days but less than a year — independent of the fires.

    “The short-term rental space got stuck. Regulations hit, and people are finding that the next best option is mid-term rentals,” said Jesse Vasquez, an entrepreneur who runs a mid-term rental summit every year.

    Vasquez said L.A. is the best market for mid-term stays because so many people visit the city for extended periods with no permanent plans: travel nurses, students, digital nomads or people working on long-term projects such as films or construction.

    He said mid-term rentals rake in about 15% to 20% less than short-term rentals, but in exchange, homeowners deal with less turnover. If a three-bedroom, two-bathroom house in a popular neighborhood can make around $10,000 per month as a short-term rental, it could still bring in $8,000 per month as a mid-term rental, Vasquez said.

    Last year, Airbnb Chief Executive Brian Chesky identified mid-term stays as a “huge growth opportunity” for the company, and said such bookings make up 18% of the company’s business compared with 13% to 14% before the pandemic.

    Mark Lawson used to rent out his San Fernando Valley home on VRBO for weekend stays, but last year he set the parameters to only accept bookings of 30 days or more.

    “I got tired of having someone new in the house every few days,” he said.

    Short-term rentals have long been contentious. While advocates say sites such as Airbnb and VRBO offer income for homeowners and options for tourists, critics claim home-sharing removes long-term rentals from a market in the midst of a housing crisis.

    To prevent L.A.’s housing stock from being converted into short-term rentals, Los Angeles in 2018 passed the Home-Sharing Ordinance, which regulates short-term rentals by restricting hosts to renting out only their primary residences and requiring them to get a license.

    The regulatory framework worked — somewhat. Listings dropped 70% from 2019 to 2023, though much of the drop could be attributed to the pandemic. Last year, the restrictions spread to unincorporated areas in L.A. County, which previously weren’t subject to the rules.

    But despite the new requirements, thousands of hosts still operate without a license, or fake their registration numbers, due to lack of enforcement.

    Last year, a report from the L.A. Housing Department said that as of October 2024, there were an estimated 7,500 violations of the Home-Sharing Ordinance, but only 300 citations. So in March 2025, the L.A. City Council approved a slew of recommendations to beef up the ordinance even more, arming the city with a war chest of new enforcement tools.

    The plan calls for 18 staffers to monitor violations and increased fines based on the square footage of the rental: $1,000 for rentals less than 500 square feet, up to $16,000 for homes greater than 25,000 square feet. The fines double and quadruple on the second and third violation, respectively.

    The recommendations even call for city staffers to go on spy missions in illegal rentals. Under the proposed plan, Housing Department staff would use prepaid cards to book home-sharing rentals and stay in homes to gather evidence that they’re operating illegally.

    However, two months later, the city’s $14-billion budget scaled back spending for many city departments. As a result, no new enforcement officers have been hired, and many of the plans have yet to be implemented.

    But simply the threat of higher fines and stricter enforcement has had a chilling effect.

    “Talking to our customers, regulation is the biggest factor in short-term rental inventory decreasing,” said Derek Jones, Hospitable’s vice president of sales and partnerships. “L.A.’s ordinance combines all the strict rules from other markets around the country.”

    Jones said the potential for $1,000 fines — now able to be doled out without a warning beforehand — are causing some hosts to remove listings from the market out of fear, since the fines far exceed the nightly revenue brought in by the average listing.

    “Housing is expensive already, then you add high penalties and zoning that limits supply,” Jones said. “All that put together, it creates a market where housing investors are cautious to invest. And that proved to be the case this year.”

    Taylor is one such investor. She specifically bought her Westside home because it had a guesthouse she could rent. But she found herself frustrated by the maximum days she could rent it annually under the Home Sharing Ordinance — 120 days.

    Her space was larger than 500 square feet, so under the new rules, it could be subject to a $2,000 fine for the first violation, $4,000 for the second, and $8,000 for the third. Ultimately, she decided it wasn’t worth the hassle.

    “I’ll keep an eye on how the city is enforcing the rules. Maybe I’ll try it again someday,” she said. “But for now, it’s gonna stay empty.”

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    Jack Flemming

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  • A house under $500,000 in the Bay Area? The catch is there’s a tenant until 2053

    A house under $500,000 in the Bay Area? The catch is there’s a tenant until 2053

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    Imagine the first morning you wake up inside your new house in the Russian Hill neighborhood of San Francisco.

    An AI robot rolls in to deliver you breakfast in bed. You’re feeling good. The year is 2053.

    You made the right decision.

    Nearly 30 years ago, you purchased the three-bedroom, one-bath house on North View Court for way under its market value — at just $488,000. But there was a catch — you couldn’t move in for 29 years, because a tenant had a long-term rental agreement that lasted into the second half of the 21st century.

    That’s a possible future for anyone seriously interested in the new listing from Park North Real Estate brokerage.

    Long lines formed to tour the occupied house, according to KFSN-TV. While it is not clear who the tenant is or how exactly they negotiated their 30-year-lease, Park North did say the owner of the house died recently at the age of more than 100.

    The tenant also pays well below market rate rent — just over $400 per month for the spacious house.

    “Tenant’s current lease appears to grant tenants strong long-term rent rate amount restrictions, unconventional method of rental payment, and possible occupancy rights until 2053,” the brokerage wrote in the listing. “Seller & listing agent do not guarantee access to the home and STRONGLY recommend buyers review the seller disclosure package/addenda and confer with a San Francisco landlord/tenant attorney BEFORE making offer.”

    Douglas Lee, a real estate agent with Compass, said the house in San Francisco is an ideal spot for someone to “land bank” — meaning someone who doesn’t intend to use or develop the property until many years out.

    “You sit and wait until that tenant either dies, vacates or the lease ends,” Lee said. “Once that happens, you realize a ton of your potential. That’s a really good purchase for trust fund people. If you’re buying it for your kid who is like zero or 1, in 18 years you know that this thing will be about ready to realize.”

    The Edwardian-style home on the hill is not the brokerage’s only strange and cheap listing. The company also features what it referred to as a “fire sale” for a $188,000 condo. The catch?

    “Property is gutted down to the studs due to fire. Outstanding opportunity for a Contractor, Investor or Homeowner who is willing to pay CASH. Please use caution when viewing as there are exposed construction materials. No access to the private deck as slider is damaged from fire,” the brokerage wrote.

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    Noah Goldberg

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  • Jade Enterprises Lists Mostly Empty LA Building for Sale

    Jade Enterprises Lists Mostly Empty LA Building for Sale

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    Jade Enterprises has listed a mostly vacant office tower in Downtown Los Angeles for sale. 

    The L.A.-based investment firm has put 660 South Figueroa Street, a 24-story, 284,500-square-foot tower, on the market, according to a LoopNet listing. A team led by Newmark’s Kevin Shannon is marketing the property for sale. 

    No listing price was disclosed, though the deal would be a “significant” discount to what it could cost to replace the entire building — estimated to be more than $900 a square foot, or roughly $256 million. 

    Jade bought the property for $80 million in 2014, or roughly $281 a square foot, records show. The firm used a $55.4 million loan from U.S. Bank for the acquisition and refinanced with a $51.5 million loan from Acore Capital. 

    The balance of the loan has shrunk to $39 million. Jade is offering the buyer a deal to assume the loan, which matures in February 2027, with the acquisition.

    Jade has spent $12 million over the last 10 years to renovate the building’s common areas and on tenant improvements, according to the listing. 

    The property is currently 37 percent leased — and about 12 percent of that is set to expire before 2027. No leases are scheduled to expire this year. 

    Offices in Downtown Los Angeles have been trading well below what Jade paid for the building in 2018, impacted by high interest rates and the City of L.A.’s transfer taxes, known as Measure ULA. 

    Earlier this month, The Swig Company sold an office complex at 617 West 7th Street for $20.5 million, or $94 a square foot, marking one of the lowest deals on a square-foot basis for an office property in the Downtown market. 

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    Isabella Farr

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  • Shadow Token surges 20% following Coinbase listing 

    Shadow Token surges 20% following Coinbase listing 

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    Coinbase will list Shadow Token, the native cryptocurrency of the ShdwDrive, a high-performance decentralized data storage network.

    The largest crypto exchange in the U.S. announced that Shadow Token (SHDW) will be live on the platform from tomorrow if liquidity conditions are met.

    Following the announcement, Shadow Token immediately surged by 20%. The token has been up nearly 80% in a month. 

    Since last month, SHDW has been listed by several major centralized exchanges, including Crypto.com and Gate.io. As a result, the token’s daily trading volume has consistently increased, surging over 200% today. 

    Shadow Token gained notable attention following its inclusion in Coinbase’s listing roadmap, leading to a significant price surge. With the recent surge in Solana’s network activity, utility tokens like SHDW have seen major interest, as developer engagement has increased across the platforms. 

    Launched in January 2022, Shadow Token allows for on-chain events to confirm the continued integrity and existence of stored data, a significant advancement over previous attempts by other web3 storage providers to integrate with Solana, which had limited success. The network supports various use cases, including web hosting, archival and backup services, social media applications, datasets, and personal storage solutions.


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    Mohammad Shahidullah

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  • Black-trimmed homes, tiny libraries and other signs your neighborhood is about to be gentrified

    Black-trimmed homes, tiny libraries and other signs your neighborhood is about to be gentrified

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    A shift in demographics. Affordable apartments transformed into luxury condos. A coffee shop called something like “Brew Slut.”

    The signs of gentrification take many forms. A newly opened art gallery can serve both as a communal space and a harbinger of the displacement to come. Remodeled homes might boost a street’s curb appeal but then drive up rents in the ensuing months and years.

    There are plenty of ways to tell when gentrification is coming to a community; rising home prices and an influx of trendy shops are classic omens. But in the modern market, developers are flipping houses at the highest rate since 2000, and the houses they churn out are often homogeneous: boxy, black and white, minimalist. They’re adorned with trendy house number fonts and chic drought-tolerant gardens, and they can be an obvious sign of gentrification on the way.

    Take a stroll through your neighborhood and keep an eye out for these trends. If you spot a few, gentrification may be on the way. If you spot a bunch, it might be well underway.

    The gentrification font

    If Neutraface starts speckling the homes and fences around your neighborhood, your rent might soar soon.

    The sleek typeface and its many knock-offs have become so commonplace that they’ve become a meme, and the Guardian even declared it “the gentrification font.” It crowns countless brand-new builds across L.A., and like certain wines and cheeses, it pairs well with cheaply done fixer-uppers or the aforementioned box houses.

    House numbers are presented in a chic font.

    (Jack Flemming / Los Angeles Times)

    “The Shake Shack font has invaded,” said Steven Sanders, a Highland Park resident who has lived in the rapidly changing neighborhood since 2015. When Sanders moved there, the median single-family home value was around $463,000, according to Zillow. Today, it’s $1.002 million.

    There’s nothing specifically wrong with the font; it’s clean, modern and easy to read. Ironically, it’s named after Richard Neutra, an iconic architect who often stressed affordability in his work.

    If a for-sale house has a Neutraface house number, the listing price will probably be anything but affordable.

    Gentrification bonus point: if the font is also brass or gold.

    Black-and-white paint jobs

    This two-story home features a black-and-white exterior.

    This two-story home features a black-and-white exterior.

    (Jack Flemming / Los Angeles Times)

    Gentrification, in terms of housing, has become a monochromatic movement. Gone are the green-colored Craftsmans or the pink-hued bungalows of old; today, newly built homes are overwhelmingly white, black or a brutal combination of the two.

    “Taste aside, a black house in an era of climate change is ridiculous,” said Adam Greenfield, a transportation and land-use advocate.

    Gentrification bonus point: if a black-and-white exterior comes with an accent door — a splash of bright blue, yellow or turquoise to showcase that the property isn’t completely devoid of character. Just mostly devoid of character.

    Excess security cameras

    Multiple cameras are posted outside an Eagle Rock home.

    Multiple cameras are posted outside an Eagle Rock home.

    (Jack Flemming / Los Angeles Times)

    If you’re taking a stroll down your street and feel watched — not by anyone specific, but by a small army of Ring doorbells, Nest cameras and other electronic eyes making sure you don’t pick a Meyer lemon or that your dog doesn’t defecate on the decomposed granite — brace for a new brand of neighbor.

    Surveillance systems and the context behind them, in which owners view their neighbors and passersby as potential package-stealers, are all too common in gentrifying communities. For if it were truly a high-crime place, there would still be chain link and barred windows.

    There’s plenty of evidence that smart doorbells lead to racial profiling, and while there’s nothing inherently wrong with security systems, they generally detract from the community feel instead of adding to it.

    “It’s the degradation of the social fabric that for so long we all took for granted,” Greenfield said. “It’s legitimate to walk up to a neighbor’s door to ask for or offer something, and security cameras and warning systems discourage that. We can’t let fear win in our society.”

    Gentrification bonus point: if they come with a speaker with a disembodied voice that barks at passersby in a condescending tone: “Hi! You are currently being recorded.”

    Privacy fences

    Sometimes, surveillance systems aren’t enough. Many modern homeowners moving into new neighborhoods don’t even want to be seen by neighbors, so they install privacy fences or towering hedges to shield themselves from anyone walking by.

    Greenfield calls them “f— you fences.”

    “Many people were raised in the suburban sprawl, where they don’t have as much access to other people. Then they move to denser areas and import those suburban norms of separation and privacy,” Greenfield said.

    Lola Rodriguez, a Lincoln Heights resident who grew up in the area, said if a home in the neighborhood is ever hidden from view, it’s usually someone who just moved in.

    Gentrification bonus point: if the privacy fence is chic and stylish, like the horizontal trend that has taken over in some areas.

    Box houses

    A boxy modern home

    This modern five-bedroom home listed by Avo Atnalian in the hills of Highland Park is on the market for $2.498 million.

    (Avo Atnalian)

    One of the more uninspired architectural trends of the last century, modern box houses forgo attempts at character or ornamentation, instead serving as shrines to simplicity. They worship at the altar of minimalism, squeezing out as much square footage as zoning laws will allow.

    They’re clean, they’re simple, and they’re a likely sign that a new demographic is moving into a neighborhood.

    “It’s jarring seeing a bright white box house jammed between older houses with more character,” Rodriguez said. She prefers the neighborhood’s stock of century-old bungalows over the new homes being built.

    The polarizing style isn’t for everyone, but it’s a hit for deep-pocketed buyers eyeing extra space. And box houses are quicker and cheaper to build for profit-minded developers, who will keep cranking out supply as long as there’s demand.

    Gentrification bonus point: if the box house includes a glass garage door.

    A modern home with a glass garage door.

    This modern home features a glass garage door.

    (Jack Flemming / Los Angeles Times)

    Drought-tolerant gardens

    To be clear, the ecological benefits of drought-tolerant landscaping make it a net positive for Southern California. Limited water usage is absolutely a good thing.

    But such gardens aren’t always cheap, and if they start popping up in neighborhoods where most residents can’t afford to spend thousands of dollars, sometimes tens of thousands, on their yard, it could be a sign of gentrification.

    Most carry the same look: a handful of shrubs, succulents and cacti surrounded by gravel or decomposed granite, giving it a sandy, desert-like quality.

    Drought-tolerant plants outside an Eagle Rock home.

    Drought-tolerant plants outside an Eagle Rock home.

    (Jack Flemming / Los Angeles Times)

    Kerry Kimble and Steven Galido, two real estate agents with the Agency, said they’ve noticed an increase in drought-tolerant gardens in neighborhoods such as Echo Park, Highland Park and Silver Lake, where displacement has already been happening for years.

    The majority of Kimble’s listings are in northeast L.A., and she said she’s noticed a surplus of succulents.

    Galido said some developers add drought-tolerant gardens to attract potential buyers.

    “Developers remodel homes for the taste of the gentrifier,” he said.

    The pair are currently listing a 106-year-old duplex in Angelino Heights, a neighborhood protected by a Historic Preservation Overlay Zone, which preserves a community’s architectural feel by limiting new building designs and renovations. But not every neighborhood enjoys such protection.

    Firestick plants

    Firestick plants fill the gardens of many homes in gentrified neighborhoods.

    (Jack Flemming / Los Angeles Times)

    Gentrification bonus point: if the garden is riddled with Firestick plants — the trendy, orange-tipped succulents that seem to anchor every lawn in those “up-and-coming” neighborhoods.

    Little Free Libraries

    Listen, these are lovely. Unlike surveillance systems and privacy fences, little libraries actually evoke a sense of community, bringing neighbors together over a shared love of literature (even though most generally seem to be stocked exclusively with James Patterson novels and unreadable how-to books).

    A Little Free Library is posted outside a home.

    A Little Free Library is posted outside a home.

    (Jack Flemming / Los Angeles Times)

    The charming, birdhouse-like structures certainly don’t cause gentrification, despite what a handful of critics have claimed over the years. But they definitely seem to be a product of gentrification, usually popping up in areas where home prices are rising and well-to-do residents are moving in.

    Gentrification bonus point: if a smart doorbell camera watches over the library, making sure nobody takes more than their fair share of books.

    Pointed listing language

    Sometimes, the clearest sign of gentrification is hearing how people are talking about a neighborhood and the homes within it. There’s a wealth of such examples posted daily on Zillow, Redfin and other listing sites as real estate agents take on certain tones to market properties to potential buyers.

    For example, if a listing brags about the home being some kind of port in a storm, a refuge from the area around it, a ship of gentrifiers might be sailing in. One listing in Boyle Heights is touted as an “urban oasis.” Another in South L.A. promises to add “a touch of serenity to urban living.”

    Also pay attention to whether a listing is marketed as an actual place to live or simply an investment opportunity. This listing near Leimert Park asks potential buyers to “come see your future investment today.” An Elysian Heights listing touts its use as an Airbnb.

    Gentrification bonus point: if the language sounds like an extra flowery wellness ad, such as this listing in East L.A.: “Imagine stepping into a world where every corner whispers tales of renewal.”

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    Jack Flemming

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  • Flutter Entertainment to Delist from Euronext Dublin, Eyes New York Listing in Q1 2024

    Flutter Entertainment to Delist from Euronext Dublin, Eyes New York Listing in Q1 2024

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    Flutter Entertainment, the parent company of FanDuel, has decided to delist from Euronext Dublin, Ireland’s stock exchange, as part of its strategy to add a New York listing in the first quarter of 2024. The move comes amid regulatory considerations and technical challenges in maintaining the company’s Dublin listing.

    Europe Remains a Challenging Regulatory Environment

    While Flutter plans to remain listed on the London Stock Exchange, it has opted to delist from Euronext Dublin. The decision is rooted in the desire to streamline operations and facilitate easier regulatory compliance. The company stated it preferred to maintain a listing in Ireland but cited challenges and technical difficulties that hindered the retention of its Dublin listing.

    Flutter’s decision to gradually shift its focus away from Europe comes amidst a series of setbacks on the Old Continent. While the gaming giant’s UK & Ireland division showed an 11.2% year-on-year revenue increase, reaching $566 million, the region’s uncertain regulatory landscape has impacted the company’s operations, causing significant concern.

    Flutter’s recent announcement about the closure of 21 Paddy Power betting shops in Ireland further destabilized its position in the region, as the Irish government announced a new Gambling Bill to restrict betting ads between 5:30 am and 9:00 pm. Flutter urged policymakers to reconsider, fearing such a change could impact revenues.

    US Operations Enjoy Stellar Growth

    Flutter has had significantly more success in the USA, as Q3 results revealed robust growth. The company’s US-facing operations saw revenues of £668 million ($820.2 million), up year-over-year by 12%. New York was one of Flutter-owned FanDuel’s most successful jurisdictions, as it became the first state to surpass the $2 billion handle mark.

    Other highlights of Flutter’s latest trading update included the successful acquisition of a 51% stake in MaxBet, a leading betting and gaming operator with a presence in Serbia. This move signifies that despite Flutter’s increasing focus on the USA, the company will maintain its foothold in its core markets and continue investing in promising European jurisdictions.

    The move to delist from Euronext Dublin and seek a New York listing aligns with Flutter’s broader vision and ongoing efforts to navigate the dynamic landscape of the global gambling industry. The company has maintained impressive momentum, but rising industry challenges have forced it to adapt and reconsider its priorities.

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    Deyan Dimitrov

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  • Steamboat Lodging Properties and www.Vacation.Rentals Join Forces to Combat Online Travel Agency Booking Fees

    Steamboat Lodging Properties and www.Vacation.Rentals Join Forces to Combat Online Travel Agency Booking Fees

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    A seasoned property manager has had enough and has made the switch to a new vacation rental platform.

    Press Release



    updated: Jul 24, 2018

    Vacation.Rentals and Steamboat Lodging Properties are teaming up to combat the burdensome fees charged by the major online travel agencies. Suzie Spiro and Tom Reagan owners of Steamboat Lodging Properties and longtime residents of Steamboat, Colorado have managed upwards of 20 vacation property rentals over the years by ascribing to the “hands-on approach.”

    As “chief cook and bottle washer” Suzie became tired and frustrated with the ever-changing dynamics of online travel agencies, the loss of control of who stays in the homes they manage for their Owners and their commission based structures and began to look for a better alternative to VRBO™, AirBNB™ and FlipKey™. She believes she has found it with Vacation.Rentals – a new platform launched in May 2018. This new website returns control to Suzie who is again able to “hold their guest’s hands” from booking to departure, by enabling the guest to find the best fit for their needs – much like the original format of these large OTAs.

    They simply have changed and made the experience for the traveling public and Owners/Property Managers a maze of incomprehensible options which has ruined what was a very good thing at one time.

    Suzie Spiro, Owner

    With www.vacation.rentals owners and property managers can list their vacation homes for rent on the website with nothing more than a basic annual subscription. There are no fees or commissions and never a charge to the travelers. Although brand new to the industry, the owners of the website and Suzie believe they have an absolute winner with the combination of an instantly recognizable URL, unique branding, and an eager owner base to work with.

    “We were with VRBO™ for years and years before they were bought out by Expedia™,” said Suzie. “They simply have changed and made the experience for the traveling public and Owners/Property Managers a maze of incomprehensible options which has ruined what was a very good thing at one time, and we have had enough. We believe that www.Vacation.Rentals has what it takes to succeed in the short-term rental market, and it is the main reason we chose to list our rental properties in Steamboat Springs with them.”

    “Our vacation properties in Steamboat have been very successful over the years, and we have a large repeat base to work with. Without our repeat clients, it would be extraordinarily difficult to receive bookings and pay these exorbitant fees the online travel agencies are charging.” Suzie continued.

    “We are honored that Steamboat Lodging Properties decided to give us a shot to prove ourselves. But, we are offering the same to all vacation homeowners. Right now, anyone can list their Colorado vacation home for rent on our site and get six months free. We are so certain of our future potential we are willing to forgo immediate payments to grow the base and improve the product.” said Mike Kugler “Working together we hope to see the time when every homeowner is back in charge of their listings and travelers get a great deal on their reservations. It will take some time – growth in our platform – and for people to drop their dot-com addiction. Once they do that, they will immediately see better options and savings.”

    About Steamboat Lodging Properties

    Suzie and Tom have been both property managers and real estate investors for over 30 years.  Starting out with purchasing and renting their properties on a long-term basis, they fell into managing homes for others “by mistake.” While renting one of their vacation rentals in Steamboat, Suzie doubled booked their home over the holidays, she managed to scramble finding another Owner to rent their home.  Saved the day, and suddenly they were hooked on the business of renting vacation homes for others as well as themselves. Their philosophy is very much a “hands-on approach.” Suzie is the front desk handling all the calls for potential guests, asking as many questions as needed to make sure the guest finds the best place to stay and has the best experience they can when visiting Steamboat. Be it making sure they can purchase discounted lift tickets at the best price, or buying flowers for that particular person on Valentine’s Day, we can do it all. Over the years, Suzie and Steamboat Lodging Properties have an incredible return guest rate, and many of our Owners and our Guests have become our longtime friends. 

    About Vacarent, LLC
    Vacation.Rentals is a project that has been pursued for the past three years by the owner and developer of the site, Mike Kugler. Mike and his wife Handan own Hunters Friend Resort in Branson, MO. and have been in the short-term rental market for 14 years. During this time, they noticed a strong trend towards taking more of the owner/property managers’ revenue from listing sites, while giving less in return for owners who did not pay for premium listing services. In August of 2015, the Internet Corporation for Assigned Names and Numbers (ICANN) released new gTLDs to the marketplace in the hopes of spreading out some of the competition for highly lucrative domains. For the past three years, we have pursued and finally won the right of ownership for Vacation.Rentals. Vacation.Rentals launched live to the internet on the 30th of March, 2018 with the desire to bring a more affordable, user-friendly experience to the short-term, nightly rental market. This effort took months of hard work and commitment from a dedicated staff, along with a sizeable commitment in investment. It is our strongest desire to grow this site to over a million listings worldwide, and we will not stop until we have achieved this. We will accomplish this by demonstrating a commitment to owners as well as travelers. We do not collect any fees or commissions on bookings, just a simple annual membership fee for each home listed. We will not strike out contact information from either side and encourage our owners to interact with us directly, to let us know what other features they would like to see added. With this, we will launch a forum for https://vacation.rentals and encourage everyone to use it.

    Source: VacaRent, LLC

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