New York City Clamps Down on Short-Term Rentals

New York City just approved new regulations on short-term rentals that could greatly reduce the number of listings in Airbnb's largest domestic market.
July 19, 2018, 2pm PDT | James Brasuell | @CasualBrasuell
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"The New York City Council voted unanimously on Wednesday to significantly restrict Airbnb and other online home rental services, joining a growing movement of cities around the globe in stepping up regulation of the so-called sharing economy," reports Zoe Greenberg.

"The bill aims to prevent landlords and tenants from illegally renting out apartments for a few days at a time to tourists, a phenomenon that the city says has aggravated the housing crisis by making short-term rentals more profitable than long-term leases," adds Greenberg.

The article includes a lot more detail about the politics of the short-term rental business in New York City, as well acknowledging the precedents for New York's action in cities like San Francisco, New Orleans, Paris, and Barcelona.

Full Story:
Published on Wednesday, July 18, 2018 in The New York Times
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