Measuring the Impact of New York’s New Short-Term Rental Law on Airbnb
Skift Take
Airbnb and other short-term rental companies can learn a lot from what’s happened in New York in terms of the regulations the state and city have implemented, including the new advertising law that awaits Cuomo's signature. And they should start preparing for similar laws that will undoubtedly emerge in other cities.
The relationship between Airbnb and New York state and city officials has, historically, not always been on the best of terms.
And a new law awaiting New York Governor Andrew Cuomo's signature threatens to strain that relationship even further, and it could have lasting effects on how other cities choose to regulate short-term rentals.
On June 17, the New York state legislature passed a bill that would heavily fine hosts on Airbnb and other short-term rental sites like HomeAway, FlipKey, and VRBO, who post listings that violate the state's laws on short-term rentals. The new law has a penalty of up to $1,000 for the first violation, $5,000 for the second violation, and $7,500 for the third and subsequent violations.
New York's short-term rental laws, which were last updated in 2010, basically prohibit most apartments (buildings with three or more units) in New York City from being rented out for less than 30 days. This means that the majority of entire home/apartment listings
