How to regulate Airbnb and 'homesharing'

Here's the short-term rental dilemma: Websites like Airbnb and VRBO have made vacation rentals and house-sharing incredibly popular by making it easier for travelers to find homey, affordable lodgings and for homeowners to earn extra money by renting out all or part of their dwellings. But short-term rentals are not only illegal in Los Angeles' residential communities, they can create nuisances in neighborhoods and take much-needed housing off the market. Cities in the U.S. and abroad have struggled to manage the resulting boom in short-term rentals. Some cities, such as Hermosa Beach and Ojai, have decided to ban short-term vacation rentals (those less than 30 days) altogether. Mayor Eric Garcetti and members of the City Council have rightfully recognized that the "sharing economy" offers real benefits to residents and the city.