They have argued that renting those homes to tourists and visitors instead of New Yorkers exacerbates the city’s acute housing shortage and makes it even more expensive to live here. Why restrict short-term rentals?Ĭity officials estimated there were roughly 10,800 Airbnb listings as of March 2023 that were illegal short-term rentals. Starting Tuesday, hosts who violate the rules could face fines of up to $5,000 for repeat offenders, and platforms could be fined up to $1,500 for transactions involving illegal rentals. In order to collect fees associated with the short-term stays, Airbnb, Vrbo, and other companies must check that a host’s registration application has been approved. The new regulations, which the city will begin enforcing on Tuesday after a series of court challenges, require hosts to register with the city to be allowed to rent on a short-term basis. The city also asserts that no more than two guests are allowed to stay at a time, and that they must have ready access to the entire home.īut there continue to be numerous listings for rentals of whole apartments and homes, and the city has argued companies like Airbnb are not policing their platforms aggressively enough to root out violators.Ī city official claimed in a July court filing that more than half of Airbnb’s $85 million net revenue in 2022 from short-term rentals in New York City came from activity that is illegal. For years, the city has maintained that existing laws preclude people from renting out homes to guests for less than 30 days, unless the host is present during the stay.
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