Short term rentals operator to quit LA market

George Sell By George Sell
1 week ago | Updated 1 week ago

US: Ginosi Apartels is to cease trading in Los Angeles due to a crack down on short-term rentals.

The company is described as "among the most prominent companies to create a niche for renting out furnished apartments in the burgeoning business of vacation rentals in LA apartment buildings".

Based in Armenia, the company has continued to operate more than three years after LA legislators pledged to stop apartments from being run like hotels. Ginosi described its properties as a fusion between a hotel and "the conveniences of a fully furnished apartment".

LA area officials have tried to clamp down on short-term rental businesses, but a Superior Court judge in Venice Beach ruled earlier this year that nothing in city codes justified barring short-term rentals at an apartment building there.

Ginosi also has properties in Chicago and Seattle as well as Brussels, Prague, Milan and Castelldefels. It decided to end its operations in Washington, DC, last year after officials there sued, accusing Ginosi of working with building owners to illegally operate apartments like hotels.

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