Under the new restrictions, short-term renters will need to register with the city and must be present in the home for the duration of the rental

Under the new restrictions, short-term renters will need to register with the city and must be present in the home for the duration of the rental

Home-sharing company Airbnb said it had to stop accepting some reservations in New York City after new regulations on short-term rentals went into effect.

The new rules are intended to effectively end a free-for-all in which landlords and residents have been renting out their apartments by the week or the night to tourists or others in the city for short stays. Advocates say the practice has driven a rise in demand for housing in already scarce neighbourhoods in the city.

Under the new system, rentals shorter than 30 days are only allowed if hosts register with the city. Hosts must also commit to being physically present in the home for the duration of the rental, sharing living quarters with their guest. More than two guests at a time are not allowed, either, meaning families are effectively barred.

  • SCB@lemmy.world
    736·
    10 months ago

    This does nothing to address NYCs actual housing shortage, and will hurt the market more than it helps.

    New York City’s housing stock has only increased 4% since 2010, not nearly enough to keep up with its 22% increase in jobs. And from 2017 to 2021, New York City permitted 13 homes for every 1,000 residents in 2017

    • archomrade [he/him]@midwest.socialEnglish
      25·
      10 months ago

      Housing stock isn’t just total number of housing units, it’s available housing on the market. This will absolutely free up property that’s been hoarded off for AirBNB rentals

      • wahming@monyet.ccEnglish
        11·
        10 months ago

        I would be interested to see stats on the impact of this a year down the line. From what I’ve seen, Airbnb has a very tiny percentage of actual housing stock, but (deservedly) disproportionate impact on public perception.

        • archomrade [he/him]@midwest.socialEnglish
          7·
          10 months ago

          I do actually think it’s a small percentage, but it’s been reported that a lot of realtors/landlords have been running AirBNB’s in empty units fraudulently in order to skirt laws and regulations. Not sure if it’s still happening (I saw this reported maybe 3 years ago now?).

          Institutional landlords make up a large chunk of the housing stock though, we need to combat that as well.

          • wahming@monyet.ccEnglish
            1·
            10 months ago

            The Airbnb figures come direct from Airbnb, so there’s only so much inaccuracy possible.

    • stigmata@lemmy.world
      2·
      10 months ago

      “Units being sold for permanent living than being bought to rent out days at a time will cause a housing shortage.” lol