VRMA Administrator
New regulations in New York City, which went into effect on September 5, mean as many as 10,800 listings for short-term rentals will likely no longer be available, according to a city estimate from the end of March. City officials say the shift will force property owners to rent those homes to residents instead of visitors, helping to ease the city’s housing shortage. But to what degree that will happen, and how quickly, is not clear. In the long-term, some experts say, it remains an open question whether the new rules will help or hurt the city's housing crisis and overall economy.
New York Times (09/17/23) Mihir Zaveri
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