New York City has begun enforcing a 2022 law that restricts short-term rentals like Airbnb, $ABNB.
This action is anticipated to result in the removal of numerous listings from these platforms. It marks the latest and potentially the most significant development in the ongoing dispute between major cities and home-sharing companies.
The city contends that the widespread availability of short-term rentals on platforms such as Airbnb has contributed to rising rents and exacerbated the housing scarcity in New York City.
Airbnb has characterized these new regulations as an “effective prohibition” on its platform, while critics argue that the city is yielding to pressure from the hotel industry and eliminating affordable lodging options for visitors.
Under the new system, rentals shorter than 30 days are only allowed if hosts register with the city. Hosts must commit to being physically present in the home for the duration of the rental, sharing living quarters with their guest.
Related: The Roosevelt Hotel in NYC has 1,025 rooms and American taxpayers are currently paying for every one of those rooms to be filled by illegal immigrants – At a cost of $6,000 per family of illegals, per month.
according to government; government action is never the cause of problems, even when later government action is taken to solve previous government action that caused problems.
And of course, by requiring the host to be present in the unit, there is no way for small units like studios or 1 bedrooms to be effectively rented…
Pretty much sums it up.
The problem with rent control has been understood for probably 100 years now, yet we can’t get rid of rent control.
I think we’re overlooking what riding mass transit is like.
Having an Air B&B in your neighborhood is like inviting the commercial sex industry to your kid’s bus stop.
I live near an airport in a semi detached neighborhood. The bylaws allow subletting etc.
The B&B sh1t is a freak show. There is no accounting for who is there or what is taking place. One thing is for certain, it’s zoned residential and the activity is commercial.
Perhaps I’ll attend the next board meeting and propose that we change the neighborhood plaque to Epstein Gardens.
Agreed; AirBnB is one of those “be careful what you wish for” things. On paper it sorta looks ok, but once it gets applied at scale all of the ugly side effects vastly outweigh whatever positives it might bring.
AirBnB
Thanks, an important distinction/spelling/syntax.