New York City’s Airbnb Crackdown Begins

New regulations in New York City, targeting illegal short-term rentals, are now in effect, impacting tens of thousands of listings. These rules, passed in January as Local Law 18, bolster the enforcement of existing regulations governing short-term rentals, requiring hosts to register with the city government.

To be considered legal short-term rentals, properties must host no more than two people, with the host residing on-site and providing guests access to the entire home. The new regulations demand eligible hosts to prove their residency and ensure their properties meet safety codes and other regulatory standards. Violators may face fines ranging from $1,000 to $5,000.

Under these new regulations renders many Airbnb unsuitable for many families. The impact of these regulations has been swift, resulting in a significant reduction in available listings throughout the five boroughs. Airbnb, in response, has begun cancelling and refunding existing short-term rental reservations with check-in dates on or after December 2.

Airbnb and Vrbo now bear the responsibility of ensuring that their platform users comply with city regulations. There are currently more than 40,000 Airbnb listings within the city, and the introduction of these new regulations is anticipated to result in a substantial reduction in the availability of such listings.