So far, the strict new regulations governing Airbnb and other short-term rentals have not made a significant impact on the rental housing market.
New York City’s recent crackdown on short-term rentals is reverberating across the tourism industry.
According to an article in The Real Deal, “As of the end of March, the city has scored $16.3 million in settlements from lawsuits related to Local Law 18, Bisnow reported.”
The article notes that short-term rental options declined by 80 percent since the law went into effect. However, over 6,100 new applications were submitted in the first part of 2024. Meanwhile, “Hotels have surged in demand and profitability at the end of the year, recording a jump in average daily rates of 10 percent year-over-year, according to CoStar.”
An analysis conducted in January 2024 — just four months after the new regulations took effect — found no decrease in rents or increase in apartment inventory.
FULL STORY: City fines short-term rental landlords $16M after Airbnb crackdown
A ‘Black Market’ for Short-Term Rentals Grows in NYC
While many owners are listing their rentals on other websites, others are moving them back to the long-term rental market.
Study: Maui’s Plan to Convert Vacation Rentals to Long-Term Housing Could Cause Nearly $1 Billion Economic Loss
The plan would reduce visitor accommodation by 25% resulting in 1,900 jobs lost.
New York’s Airbnb Reform, One Month In
Less than half of submissions to the city’s new application process have been approved under new short-term rental regulations.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
Chicago’s Ghost Rails
Just beneath the surface of the modern city lie the remnants of its expansive early 20th-century streetcar system.
Amtrak Cutting Jobs, Funding to High-Speed Rail
The agency plans to cut 10 percent of its workforce and has confirmed it will not fund new high-speed rail projects.
Ohio Forces Data Centers to Prepay for Power
Utilities are calling on states to hold data center operators responsible for new energy demands to prevent leaving consumers on the hook for their bills.
MARTA CEO Steps Down Amid Citizenship Concerns
MARTA’s board announced Thursday that its chief, who is from Canada, is resigning due to questions about his immigration status.
Silicon Valley ‘Bike Superhighway’ Awarded $14M State Grant
A Caltrans grant brings the 10-mile Central Bikeway project connecting Santa Clara and East San Jose closer to fruition.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
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