Airbnb landlords agree to pay San Francisco $2.25 million
Editors Note APNewsNow. Will be updated.
SAN FRANCISCO (AP) _ A San Francisco couple has agreed to a pay a $2.25 million settlement to the city for illegally renting out 14 apartments as Airbnb units.
The San Francisco Chronicle reported Monday that Darren and Valerie Lee agreed to pay the money as penalties and investigation costs.
City Attorney Dennis Herrera announced the settlement, calling the penalty an important deterrent to others seeking to illegally profit from the city's housing crisis.
The Lees were also barred for at least seven years from offering short-term rentals in any of the 17 San Francisco buildings they own or manage.
San Francisco requires people renting their homes through sites like Airbnb to live in them at least 275 nights a year and rent them no more than 90 days during that time.
Information from: San Francisco Chronicle, http://www.sfgate.com
By The Associated Press, Copyright 2018