Radical changes to New York City’s short-term rental market are set to begin Tuesday with a new city law that requires landlords to register with the city in order to maintain their listings on Airbnb, Vrbo, or similar sites. Violators can be fined up to $5,000.
Supporters and opponents of the law said it would likely eliminate thousands of listings in the five boroughs designated for 30 days or less.
Gia Sharp, a Sunset Park homeowner and co-founder of Reclaiming Homeowner Independence and Rights, or RHOAR, said the prospect is “terrifying.”
“Because it reduces the challenge and makes it impossible for us to do any type of short-term rentals anymore,” Sharp said.
However, Michael Mackey of the Tenants Political Action Committee said he expects thousands of units currently rented short-term on sites like Airbnb to be brought back into the residential rental market over the next year, which in turn will help relieve the city. Housing crisis.
“We feel very good about where we are now,” said Mackey, a member of the Coalition Against Illegal Hotels. “We have worked for more than a decade to pass a law regarding books of this type.”
He said enforcement of the law falls to the Mayor’s Office of Special Enforcement On its website It “will focus on cooperating with booking platforms to ensure that they use the city’s verification system, that all verifications are done correctly, and that the platforms stop processing unverified transactions.”
In a statement, Theo Yedinsky, Airbnb’s director of global policy, said the company had tried to establish “reasonable regulations for home sharing.”
“New York City’s new short-term rental rules are a blow to its tourism economy and to thousands of New Yorkers and small businesses in the outer boroughs who rely on home sharing and tourism dollars to help make ends meet,” Yedinsky said. “The city is sending a clear message to millions of potential visitors who will now have fewer accommodation options when they visit New York City: You are not welcome.”
Frbo did not respond to questions related to the new law.
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