Airbnb enthusiasts may not love New York as much anymore. The newest in town regulations renting an apartment or other holiday home for less than 30 days means that the platform will no longer be an ideal option for most visitors.
Local Law 18, the latest step in a long-running battle between Airbnb and New York residents, effectively banned the most typical use of the platform in the city on Tuesday. This policy places extremely strict restrictions on how Airbnb, HomeAway, Booking.com and other short-term rental hosts can operate in New York, meaning it’s no longer an ideal option to spend a few days or weeks in the city to spend.
While short-term rentals of less than 30 days have technically been banned in New York for some time unless the landlord is present, this policy is largely unenforceable. Local Law 18 requires landlords to register with the city to legally offer rental properties for less than 30 days, with the possibility of huge fines if they choose not to.
Landlords are only allowed to register and list the house they currently live in, eliminating the possibility of owning and renting out multiple units. They must also be present when a maximum of two guests stay and three or more guests may no longer stay under one reservation.
Few visitors to the city will find this arrangement an attractive alternative to having a private space with their family, friends or other travel group. Business travelers will also have much less flexibility to be productive if they are forced to share an apartment with a stranger, meaning most visitors will likely return to hotels and other more traditional accommodations rather than complying with these regulations.
While limiting Airbnb options can be frustrating for travelers, it can be excellent news for those looking to move to New York. Individual landlords who own dozens of apartments for the sole purpose of short-term renting have long been seen as major contributors to the city’s prosperity. highly competitive housing marketand freeing up these spaces can make it easier to find an apartment to live in at a more reasonable price.
