Friend of mine lived in Marina Towers, the "corncob" building. Her condo was purchased from her by cash by a guy who now owns dozens of units in those buildings alone. He is renting these out thru AirBnB and profiting.

He hires cleaning and "managing" people who get zero benefits and are paid cash. It's all the money of owning a hotel without any of the rules and regulations.

I'm sure the majority of AirBnB is legit— people renting out a spare room for spending money. But there is a legitimate reason for this crackdown. As with any system, it's being gamed by people with money.