November 1, 2019 was the City of Los Angeles’s announced start to short-term rental (STR) regulatory enforcement. Several months later, the COVID-19 pandemic led to a collapse of STR demand. In this report we ask and answer the following questions–What caused the drop in STR listings in Los Angeles since 2020? How many STR listings in Los Angeles are operating illegally? What impact have STRs had on housing availability in Los Angeles?