In search of an Airbnb in New York City? Your options are about to be drastically limited.
According to the article from Yahoo Finance, if hosts or Airbnb in New York City want to rent out their homes to visitors for 29 days or less, they must register with the city and comply with new rules that the city started enforcing this week.
Although the Short-Term Rental Registration Law was supposed to go into effect on March 6 of this year for Airbnb in New York City, the Office of Special Enforcement in New York City didn’t start enforcing it until Tuesday. Working with short-term rental businesses to make sure they are using the city’s verification system is the first step for Airbnb in New York City.
The process of culling can start there. Last month, according to Airbnb in New York Cityb, there were roughly 15,000 listings in NYC. However, the New York Times reports that as of August 28, the city had only received 3,250 or so registration applications. Only 257 of them had received approval for Airbnb in New York City.
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The rules place certain onerous requirements on those wishing to rent out their residences. For instance, hosts are only permitted to rent out their homes if they are also residing there. Additionally, only two visitors are allowed at once.
According to Bloomberg, Airbnb in New York City has run out of choices and is anticipated to lose hundreds of listings in one of its major markets after years of tussling with the city and a lawsuit that was unsuccessful earlier this year.
Although Airbnb in New York City already had some of the strictest laws, the city claims that they were frequently ignored. The host must be present when renting out an apartment for less than 30 days, and there is a limit of two guests per host, according to rules that have been in effect for years. Short-term rental properties must also adhere by construction and fire regulations, including one that forbids installing locks in individual rooms and installing specific sprinkler and fire alarm systems for Airbnb in New York City.
The city contends that illegal short-term rental postings have made New York’s affordable housing issue worse by removing much-needed apartments from the market for residents like Airbnb in New York City. In addition to concerns about excessive noise, overflowing trash, fire dangers, and property damage, the city claimed that unlawful listings are a persistent problem from Airbnb in New York City.