New York City Council announces strict rules for short-term rental hosts

New York City has regained its title of the number 1 travel destination. The spike in NYC tourism has led to significant changes in the short-term rental industry. On December 9, the City Council passed a bill that targets homeowners who rent out their apartments on short-term rental websites such as Airbnb. Both homeowners and tenants will have to register with the city. In addition, Airbnb hosts will have to include a valid registration number on all advertisements.

New York City, Tokyo, and Paris are the top three most popular travel destinations on the Airbnb website. But many government officials and housing advocates suggest that short-term rentals aggravate the NYC housing crisis. Moreover, short-term rentals could make the residential building less safe for long-term tenants. The new bill was initially proposed by Councilman Ben Kallos, who represents Upper East Side. Mayor Bill de Blasio and the City Council also support the bill.

The new rule might demotivate New Yorkers from listing their spare rooms or apartments online. Some Airbnb hosts oppose the bill arguing that the income from short-term rentals helps them afford to stay in the city. The expenses and paperwork associated with the stricter rules for Airbnb hosts could potentially hurt tourists by taking affordable housing options off the market. 

The hotel industry in New York City still suffers heavy losses in revenue as many hotels remain closed. The new bill aims to help hotels regain their appeal to travelers. Currently, the state requires homeowners who are renting out a place for less than 30 days to be present during the stay. If the mayor signs the bill, it will take effect in 12 months.

Resources:

“New York City, Facing Housing Crisis, Targets Owners of Illegal Airbnbs,” by Mihir Zaveri (the New York Times, 2021)

“City Council Passes Bill Requiring NYC Homeowners, Tenants Who List Properties For Short-Term Rentals To Register With City,” by Andrea Grymes (CBS New York, 2021)

“NYC Ranks No. 1 Tourist Hotspot This Holiday Season for 1st Time Since Pandemic,” by Linda Gaudino (NBC New York, 2021)

“2021 Airbnb Statistics: Usage, Demographics, and Revenue Growth,” by Stave Deane (Stratos Jets, 2021)

“Council Member Ben Kallos Introduces bill Taking on Airbnb to Stop Illegal Short Term Rentals and Open Up More Apartments For New Yorkers,” (Ben Kallos, 2021)

“Understanding New York City’s Short-Term Rental Regulations,” by Keycafe Team (Medium, 2019)

“What to Know About NYC’s New Short-Term Rental Registration Law,” by Celia Young (Commercial Observer, 2021)

“Let us rent out our homes,” by Joy Williams (NY Daily News, 2021)