According to the Airbnb website, there are over 300 rentals in Richmond, ranging from as low as $48 to nearly $1,000 a night. The City of Richmond aims to bring these into the City’s business license and transient occupancy tax system and ultimately into the Tourism Business Improvement District (TBID) that funds the Richmond Convention and Business Bureau.
For further information, see http://www.ci.richmond.ca.us/3219/Short-Term-Rentals.
Most of these rentals are part of the Airbnb system, but some may also be listed on VRB) (Vacation Rental by Owner) or other sites. Recently Airbnb has pledged to work with cities to pay a fair share of taxes.
Ultimately this will result in more funds for the Tourism Business Improvement District (TBID) and more tax revenue for the city, as well as making sure that rentals meet a minimum level of safety.