Recently I left work in downtown Santa Barbara to head uptown via Bath Street rather than take the freeway. Back in the ’80s, I lived in an older house that had been divided into apartments. As I approached that neighborhood, I started to notice how many of those beautiful older homes now house businesses.
I was already aware that many homes in the Cottage Hospital neighborhood had been converted this way or were torn down to create medical offices. I suppose utilizing these houses in this way is more of a sure thing as far as collecting rent goes. But it is still a shame in my opinion.
Combine that transition with the current boom in short-term rentals, and you see another reason why rentals have become more scarce.