Airbnb To Crackdown On Illegal Listings In Quebec - InvestingChannel

Airbnb To Crackdown On Illegal Listings In Quebec

U.S. homestay company Airbnb (ABNB) says it plans to shutdown illegal listings in Quebec that don’t have a required permit from the provincial government.

The move by Airbnb comes a week after a fatal fire destroyed a historic building in Montreal that housed illegal rental units that were listed on the company’s website.

Four people were killed, and three other people remain missing following a fire in the Montreal building that was constructed in 1890. Some of the missing people had illegally rented their units on Airbnb.

Airbnb says that it plans to remove listings across the province that don’t have a permit from the Quebec government, which enforces the provincial Tourist Accommodation Act.

The company also said that, going forward, it will require new listings to include their permit number.

The Quebec government said it is determined to tighten the rules surrounding rentals and to make shared-accommodation platforms such as Airbnb more accountable following the fire.

Montreal Mayor Valérie Plante has accused San Francisco-based Airbnb of “washing its hands” of the problem of illegal rental units.

Airbnb’s stock has declined 30% in the last 12 months to trade at $116.92 U.S. per share.

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