Housing shortage in New York – new law limits Airbnb rentals Extremely British prisoner escaped after days of manhunt

Anyone looking to rent an Airbnb in New York since last week will likely struggle to find something cheap. Because: On September 5, 2023, the so-called “Local Law 18”, also known as the law on the registration of short-term rentals, came into effect.

The law was passed in January 2022 and is intended to help overpriced rental market to light up. The new rules state: Anyone who wants to rent out their apartment for less than 30 days at a time must register with the city as a short-term rental provider. In addition, the housing provider must live in the apartment and be present when the apartment is rented out. In addition, a maximum of two people are allowed to stay at the same time.

Giga hosts became a problem

The New York government is trying to use the law to solve the problem of so-called giga hosts. These people sometimes rent out hundreds of apartments and then rent them out profitably on Airbnb. As a result, New York’s housing market became scarcer and more expensive, which hurt locals.

The hotel industry is also happy with the newly introduced law. Hotel Association chairman Vijay Dandapani told the ‘Tagesschau’ that he welcomed the rules because the hotel industry had stricter hygiene and safety regulations and also had to pay more taxes. According to Dandapani, there are also regulations for private rental, but he believes these are not sufficiently implemented. He now hopes for increasing visitor numbers.

Tourists and small suppliers suffer from this

However, those who do not benefit from the new law are tourists and people who have rented out their apartments for short periods during their absence. The prices for an Airbnb are often significantly cheaper than the prices for a hotel room. Families and larger travel groups in particular can benefit from Airbnb. This use is now effectively prohibited by law.

Anyone who has already booked a trip and checked in before December 1 is not yet affected by the new rules and can start their trip with peace of mind. Anyone who booked for a later date should probably reconsider their trip.

Airbnb failed in its lawsuit

In June, Airbnb tried to block the law through a lawsuit. However, the charges were dismissed in August. The judge stated that the arrangement was completely rational and fair.

According to ‘Inside Airbnb’, there are almost 40,000 Airbnbs in New York. According to Wired, more than 22,000 homes were available for short-term rentals in June. Today there are just over 6,000 apartments available for short-term rentals. (ear)