New Rules Might Cost NYC 10,000 Airbnb Rentals

A sweeping short-term lease registration regulation proposed by the office of New York City Mayor Eric Adams next month may eliminate scores of Airbnb listings.

The San Francisco-based corporation that connects clients to short-term housing lodgings worldwide is not new to friction with New York City, one of its main U.S. markets.

Previously, former Mayor Bill de Blasio had issues over short-term rental listing laws. The Adams office filed a lawsuit in July to close down an unlawful Manhattan short-term rental company.

Statement

Officials hosted a public discussion with local Airbnb hosts about the new short-term rental registration legislation earlier this month.

On Tuesday, Airbnb issued an email to some of its customers providing a form for lodging complaints about the new limits with New York City officials.

The email states they are contacting hosts because the city is about to implement a regulation that will severely restrict the ability of New York hosts to keep sharing their homes.

As a result, lodgings for short-term tourist rentals will be drastically restricted to hotels and communal rooms without locks. This would restrict travel alternatives outside famous tourist locations and harm the city’s minor enterprises.

The new regulation, which will take effect in January, will force Airbnb operators to file their short-term leases with the city’s database, along with confirmation that they dwell in the property and it complies with local building and safety regulations.

If Airbnb homeowners fail to comply, they may incur fines between $1,000 and $5,000. The new laws, according to a representative for Airbnb, would harm New Yorkers who are having trouble keeping up with escalating expenses.

Housing Crisis

Nathan Rotman, government policy provincial lead for Airbnb, stated in a declaration to NPR on Wednesday that Airbnb concurs regular New Yorkers should be able to rent out their home without being attacked by the city.

They urge the government to collaborate with their host community to encourage a policy structure that assists responsible hosts and priorities, illegal hotel operators.

Christian Klossner, executive director of the city’s Department of Special Enforcement, stated to the New York Daily News that he anticipates the removal of 10,000 listings following the new restrictions.

Following news of the case, New York State Senator Liz Krueger stated in July every unlawful short-term rental in the city symbolizes a unit of housing unavailable to New Yorkers. In the midst of an enduring housing affordability crisis, every unit counts.

The proposal coincides with the continued increase in housing costs in New York City. In Nov, the typical rental value for a Manhattan apartment reached $4,033, as per CNBC.

According to a recent study from Curbed, there may now be greater Airbnb listings than homes available for rent.

InsideAirbnb, which records this data, estimates there are approximately 40,000 Airbnb listings in New York City alone. According to the database, more than half of these postings are for complete homes or apartments.

This article appeared in NewsHouse and has been published here with permission.