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Since 2010, New York State has passed a law that severely limits vacation apartment rentals. To be able to rent an apartment in New York, you must now meet one of these 3 criteria:
- The rental period must be equal to or greater than 30 days.
- The accommodation must be in a building with less than 3 apartments. A very, very rare case in Manhattan and even in Brooklyn.
- The owner must be present for the duration of the rental, which transforms the rental of an apartment into a single room at the inhabitant and not a rental of an entire apartment …
Result: many tourists have withdrawn to neighboring New Jersey, accepting the constraints of transport to New Jersey in order to be able to rent an apartment for their vacation anyway. In a few years, the vacation rental market has exploded in the towns along the Hudson River, opposite New York, particularly in Jersey City.
Jersey City adopts new, very strict rules!
However, the pressure is now mounting on New Jersey! The city of Jersey City, just across from the Financial District of New York, has just passed a law to in turn limit vacation rentals. And Jersey City hits hard: the city purely and simply prohibits seasonal rental in buildings with more than 4 apartments, in other words the essence of the offer. For others, the law prohibits owners from renting their apartment for more than 60 days in the year if they do not live in the apartment in question.
For the town hall of Jersey City, the objective is to prevent entire buildings from only accommodating apartments for seasonal rentals, thereby limiting the supply of long-term rentals for residents.
Already first cancellations …
The owners who rented their apartment in New Jersey will therefore have to quickly comply with the new law. Note that this applies to all seasonal rental platforms, whether they are AirBnb, HomeStay or Abritel.
On our Facebook group Destination New York, Jean-Christophe has already paid the price for the adoption of this new regulation. His host has just canceled his reservation, just 7 days from the scheduled date! “And yet it has been booked since the end of September 2018 with a great host! », Launches Jean-Christophe. The golden age of vacation rentals in New York is over!
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