New York rules have rules about short-term rentals are supposed to work. That doesn't mean everyone is following them.
"The [New York} City Council hopes to pump up a task force targeting illegal home rentals—a move that could deflate Airbnb," reports Will Bredderman.
City Council Speaker Corey Johnson is asking for an additional $2 million in funding for the Office of Special Enforcement above what Mayor Bill de Blasio suggested in his budget proposal.
The new funding would allow more aggressive enforcement of short-term rental regulations, most of which have been implemented at the state level in New York. "In most cases, state law requires that a permanent occupant remain on-site whenever paying guests stay in an apartment or house for fewer than 30 days. The state also passed a law in 2016 outlawing the advertising of arrangements that would violate this rule," according to Bredderman.
Read the full story: Council pushes mayor for more anti-Airbnb funding
NYC Issues Over $16 Million in Short-Term Rental Fines
So far, the strict new regulations governing Airbnb and other short-term rentals have not made a significant impact on the rental housing market.
Will New York’s Strict Short-Term Rental Rules Work?
Some owners are reluctant to put short-term rental units back on the long-term rental market, but the number of permitted units has dropped dramatically.
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.
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