Airbnb Asks NYC to Reconsider Regulations on Short-Term Rentals

9/4/2024

Airbnb has asked New York City to reconsider regulations on short-term rentals that went into effect in September 2023, citing higher prices for travelers and zero impact on the housing market. In a blog post, Airbnb said Local Law LL18, which states hosts must be permanent occupants of the units being rented and must register with the city before posting rentals, has "failed to combat the housing crisis." The company also said the cost of travel has increased. "By rolling back parts of the law, the city can increase the supply of accommodations for consumers, support resident hosts and revitalize local businesses that depend on tourism dollars," Airbnb stated.

Reuters (09/03/24) Aishwarya Jain