New York City will delay enforcement of a new city law that Airbnb Inc. says could limit the number of people who can host rentals in the city, a court filing Friday showed.
The short-term rental company filed a lawsuit against the city June 1 over the law it calls a “de facto ban” on short-term rentals set to take effect July 1.
Under this law, hosts must be permanent occupants of the homes they rent and must register with the Mayor’s Office of Special Enforcement (OSE) before posting rental advertisements.
The bureau will not issue fines to hosts or reservation services until Sept. 5, according to the filing.
New York City Mayor Eric Adams’ office did not immediately respond to a request for comment.
Airbnb said the law would make it more difficult for hosts to do business by requiring them to comply with numerous zoning regulations, housing laws, and housing construction and maintenance codes.
“We hope the city will use the useful time to collaborate with us on a reasonable alternative solution that will benefit hosts, tourism and the local economy,” said Airbnb attorney Karen Dunn, a partner at Paul, Weiss, in a press release.
Airbnb said that during the first week of July, more than 5,500 short-term rentals were booked to accommodate more than 10,000 hosts in New York City.
The company’s shares rose 5% to $122.71.
The case is Airbnb Inc. v New York City Mayor’s Office of Special Enforcement in New York State Supreme Court in Manhattan. (Reporting by Doyinsola Oladipo in New York; Editing by Richard Chang)
2023-06-12 07:00:00
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