New York City could lose 10,000 Airbnb listings in short-term rental crackdown

New York City could lose 10,000 Airbnb listings in short-term rental crackdown
Short Title	New York City could lose 10,000 Airbnb listings in short-term rental crackdown
Location	New York City
Date	January 26, 2023
Solove Harm	Decisional Interference
Information	Ownership, Public Life
Threat Actors	NYC Government
Individuals
Affected	NYC Homeowners/Landlords
High Risk Groups	Consumers, Tourists
Tangible Harms	Housing, Financial Cost, Anxiety, Inconvenience

Local Law 18 (Short-Term Rental Registration Law) was passed by the New York City Council last year, which will impact both homeowners/hosts as well as outsiders/tourists that wish to visit the city.

Description

The Short-Term Rental Registration Law was passed by the New York City Council last year, which imposes restrictions on short-term rentals for any host. The law requires all short-term rentals to be registered with the city, and comply with other regulations, such as no more than 2 people are allowed to be hosted. Additionally, the apps like Vrbo & AirBnB would have to ensure that the hosts(mostly landlords) are abiding by the city law. Any violation would result in a $1,000 to $5,000 fine. This is an example of Decisional Interference. The law can remove as much as 10,000 AirBnB listings in the city. The more properties that are transformed into short-term rentals, the less housing options become available for actual NYC residents. This not only affects the landlords who might need the extra income to survive, but it also affects any tourist that wishes to come to New York City.

Laws and Regulations

Short-Term Rental Registration Law

Sources

- https://www.theguardian.com/us-news/2023/jan/26/nyc-airbnb-short-term-rental-new-law/ - https://www.rentalscaleup.com/local-law-18-goes-into-action-poised-to-decimate-new-york-city-short-term-rental-supply/ -> For specific name of the law "- https" has not been listed as valid URI scheme.