Thousands of Airbnbs and other short-term rentals are expected to disappear from rental platforms as New York City begins enforcing tight restrictions.

Local Law 18, which came into force Tuesday, is so strict it doesn’t just limit how Airbnb operates in the city—it almost bans it entirely for many guests and hosts. From now on, all short-term rental hosts in New York must register with the city, and only those who live in the place they’re renting—and are present when someone is staying—can qualify. And people can only have two guests.

  • culpritus [any]
    ·
    1 year ago

    I wonder if this will significantly change the 'shadow vacancy' issue that's been going on. If the leeches can't make money off units that were not available in the rental market, they might have to sell them or rent them out.

    https://www.thecity.nyc/housing/2022/10/19/23411956/60000-rent-stabilized-apartments-vacant-warehousing-nyc-landlords-housing