NYC Could Lose 10,000 Airbnb Listings Because of New Short-Term Rental Law

An anonymous reader quotes a report from NPR: A new short-term rental registration law put forth by the administration of New York City Mayor Eric Adams could remove thousands of Airbnb listings from the market next month. The new measure, which will go into effect in January, will require Airbnb hosts to register their short-term rentals with the city's database -- including proof that the hosts themselves reside there, and that their home abides by local zoning and safety requirements. If Airbnb hosts fail to comply, they could face $1,000 to $5,000 in penalty fees.https://codelibrary.amlegal.com/codes/newyorkcity/latest/NYCadmin/0-0-0-133488 Christian Klossner, executive director for the city's Office of Special Enforcement, told the New York Daily News that he expects to see 10,000 listings disappear after the new regulations go into effect. "Every illegal short-term rental in our city represents a unit of housing that is not available for real New Yorkers to live in," New York State Senator Liz Krueger said in July, following news of the lawsuit. "In the middle of an ongoing affordable housing crisis, every single unit matters." There are nearly 40,000 Airbnb listings in New York City alone, according to InsideAirbnb, which tracks these numbers. More than half of those listings, according to the database, are for an entire home, or apartment. A spokesperson for Airbnb said the new regulations will hurt average New Yorkers who are struggling to keep up with rising costs. "Airbnb agrees regular New Yorkers should be able to share their home and not be targeted by the City, and we urge the administration to work with our Host community to support a regulatory framework that helps responsible Hosts and targets illegal hotel operators," Nathan Rotman, public policy regional lead for Airbnb, said in a statement to NPR on Wednesday.

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