A significant number of short-term rental listings on platforms such as Airbnb in Beijing are reportedly being shut down on the orders of the city’s government.
Chinese investigative journalism website Caixin said that nine short-term rental platforms, including the likes of Airbnb, Trip.com, Meituan and Tujia, were summoned to a meeting on 20 August by several government agencies and ordered to remove “non-compliant properties” within one week. The agencies are believed to include the Beijing Municipal Commission of Housing and Urban-Rural Development, the local office of the Cyberspace Administration, and the public security bureau. Listings in rural communities have been unaffected thus far.
It comes as a consequence of authorities in China promising to crack down on “abusive” practices by real estate firms and online rental platforms, such as overcharging renters. President Xi Jinping is leading the charge by pledging to cap rental prices in a bid to increase the supply of affordable housing and achieve so-called “common prosperity”.
Under new regulations, landlords will be banned from collecting more than a month’s rent at one time, escrow accounts will be required for leasing companies and online rental platforms to hold customer deposits, and rent gouging and other abusive practices will be punished.