Thousands of Airbnbs and other short-term rentals are expected to disappear from rental platforms as New York City begins enforcing tight restrictions.
The rules “are a blow to its tourism economy and the thousands of New Yorkers and small businesses in the outer boroughs who rely on home sharing and tourism dollars to help make ends meet,” says Theo Yedinsky, global policy director for Airbnb. “The city is sending a clear message to millions of potential visitors who will now have fewer accommodation options when they visit New York City: You are not welcome.
The change will make short-term rentals “a lot less attractive” for many people coming to New York, says Sean Hennessey, a professor at the New York University Jonathan M. Tisch Center of Hospitality. And in a city where hotel rooms are small and expensive, it could “make the city a little less accessible.”, which tracks listings on the platform. As of June, 22,434 of those were short-term rentals, defined as places that can be booked for fewer than 30 days.
There’s an older law on the books that prevents short-term rentals of entire apartments for less than 30 days in New York, but it’s been difficult to enforce without the registration mandate that takes effect Tuesday in place. Compounding the sudden shortage of Airbnbs in New York is another piece of the new law that allows landlords to ban entire buildings from short-term rental platforms. As of July, nearlyacross New York City were on the list.
Some small-time hosts feel the law unfairly loops them in with professional landlords. Margenett Moore-Roberts rents out a two-bedroom apartment in her Brooklyn brownstone; she lives in the home’s other unit with her husband and teen daughter. She says she doesn’t want to rent the apartment to a full-time tenant and lose the flexibility to host family and friends there, or, as she did during the pandemic, use it as a home office.
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