Los Angeles City Attorney Mike Feuer announced Wednesday that his office secured a settlement resolving allegations that a rent-stabilized apartment building in Venice was illegally advertised and operated as a short-term rental facility.

“My office will do everything we can to protect L.A.’s scarce stock of affordable housing,” Feuer said.

The settlement involving a building at 1305 S. Ocean Front Walk requires Venice Beach Suites, LLC and owner William Layman to pay $200,000 in civil penalties, to offer all 25 units that are not occupied by long-term tenants at 2012 market rates, and to desist from operating or advertising units for short-term rentals.

The settlement will ensure that units that were taken off of the rental market will be available at the rates that they could have been rented at if they previously had not been converted to short-term use, Feuer’s office said, as the city’s Rent Stabilization Ordinance says rents for tenants cannot be raised more than a certain percentage annually.

The settlement directly follows the recent adoption of the city’s Home-Sharing Ordinance, which prohibits short-term rentals in properties subject to the RSO.

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