VRMA Administrator
A new short-term rental registration law put forth by the administration of New York City Mayor Eric Adams could remove 10,000 Airbnb listings from the market in January. The new measure requires hosts to register their short-term rentals with the city's database, including proof that the hosts themselves reside there, and that their home abides by local zoning and safety requirements. Failure to comply could result in $1,000 to $5,000 in penalty fees. Christian Klossner, executive director for the city's Office of Special Enforcement, said that he expects to see 10,000 listings disappear after the new regulations go into effect. There are nearly 40,000 Airbnb listings in New York City, according to InsideAirbnb, more than half of which are for an entire home or apartment.
NPR (12/28/22) Giulia Heyward
