The measures could result in thousands of offers on platforms such as Airbnb, VRBO or Booking.com being removed. The planned action by the New York authorities is considered a milestone in the dispute between big cities, which could not provide enough living space, and landlord platforms, which are aimed at tourists with a flood of offers.
New York has argued for years that existing laws prohibit people from renting their homes to guests for less than 30 days — unless the host is present during the stay. No more than two guests may be accommodated at the same time and they must have access to the entire house. Private individuals would have to register with the city in order to be able to offer short-term rentals. Airbnb said the provisions would effectively amount to a ban. Hotel lobby would be preferred.
In New York, with a population of around eight million, there are thousands of Airbnb listings that are illegal according to the guidelines. The average basic rent paid per apartment in the Manhattan borough rose to a new record high of $5,588 a month in August, according to industry services. It is controversial whether the measures against Airbnb and Co. can have a noticeable effect on easing the situation.
Airbnb shares were temporarily up 8.43 percent at $143.87 via NASDAQ.
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NEW YORK (awp international)
2023-09-05 14:18:00
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