New York’s Airbnb Shutdown
While Airbnb has been a popular solution for travelers around the world, New York is cracking down on the short-term rental market. Recently, new regulations went into effect, making tens of thousands of Airbnb listings illegal.
Airbnb Listing Changes
This legislation changes the way that short-term rentals operate in New York City. Instead of simply posting available rentals online through websites such as Airbnb, property owners must register the rental through the city government.
The goal is to ensure short-term rental hosts follow specific laws and maintain safe, secure accommodations. Short-term rentals are still allowed, determined by city ordinance requirements, but everything must be registered appropriately.
Going forward, New York City will work with short-term rental platforms, such as Airbnb, to verify that the listing and host are registered and following all necessary regulations.
New York City Short-Term Rental Rules
It’s important that Airbnb hosts are familiar and compliant with new regulations for short-term rentals. Some of these requirements include:
- Properties can host no more than two people.
- The host needs to dwell on-site in the rental unit.
- Guests need to have access to all parts of the home.
- The property meets all municipal safety codes.
If Airbnb hosts violate these regulations, they could face fines ranging from $1,000 to $5,000. The short-term rental platform, such as Airbnb and VRBO, holds the responsibility for complying with these rules.
New York isn’t the first US city to crack down on short-term rentals. Similar restrictions have also been put in place in other locations, including Santa Monica and Philadelphia.
Fewer Short-Term Rentals in NYC
Going forward, it’s anticipated that there will be fewer short-term listings available in New York City. In the past, an estimated 40,000 short-term rental units were available. Now, the city is cracking down to ensure that residential apartments are being used for residential purposes.
It’s easy to see why these regulations are being implemented, especially because of the current housing shortage in New York. Additionally, residents living near short-term rentals will be glad to have these regulations enforced, especially because the rentals often cause disruption due to pollution and noise from the renters.
These changes are expected to reduce the number of listings, which will likely drive up the price of hotel rooms in the area.
While there are undeniable benefits of regulating short-term listings, it’s no surprise that these changes will impact the tourism economy. Local businesses and New Yorkers who rely on this rental income for their livelihood will feel the financial impact the most.
– Written by Becki Andrus in partnership with wrought iron door manufacturers Abby Iron Doors.