Skift Take
With this settlement, the city has clearly said it will enforce the existing laws about short-term rentals. What this will mean for Airbnb and its peers remains to be seen, as does its effect on hosts and users .
New York City just announced a settlement with short-term apartment rental service Smart Apartments LLC that will prevent the company from doing any business as well as require it to pay $1 million penalty to the city.
"Unregulated illegal hotels are unsafe and pose a danger to the community and those who unwittingly use them," said Mayor Bloomberg in a statement. "Today’s settlement will remove dangerous and illegal conditions, and ensure we continue to safeguard the quality-
