STR Arbitrage stings landlord with a $180,000 fine

[Richard Elvin]

This is one of the reasons I would be very hesitant to allow an arbitrager access to my property. The home owner, not that arbitrager, is stuck with the fine. Even if the home owner wins a judgment against the arbitrager, it will be hard to recoup $180,000.

"The city arrived at the $180,000 fine based on a $500-a-night penalty for each of hundreds of nights it tracked as booked at Tao's property, according to documents submitted to the City Council."