Under the new restrictions, short-term renters will need to register with the city and must be present in the home for the duration of the rental
Home-sharing company Airbnb said it had to stop accepting some reservations in New York City after new regulations on short-term rentals went into effect.
The new rules are intended to effectively end a free-for-all in which landlords and residents have been renting out their apartments by the week or the night to tourists or others in the city for short stays. Advocates say the practice has driven a rise in demand for housing in already scarce neighbourhoods in the city.
Under the new system, rentals shorter than 30 days are only allowed if hosts register with the city. Hosts must also commit to being physically present in the home for the duration of the rental, sharing living quarters with their guest. More than two guests at a time are not allowed, either, meaning families are effectively barred.
Yes and this requires additional restrictions on the property that many people flat-out cannot afford.
If they can’t afford to sit on multiple empty houses due to increased AirBnB regulations, then they can always sell some of those assets back into the market. In fact, that’s the point of the regulation :P
The idea of some poor landlord barely scraping things together because their 50 rental properties (and thus millions of dollars worth of assets) are less profitable is preposterous
The idea is that a non-negligible amount of renters pad their rental income with AirBnB and are not actually landlords.
Are you, by any chance, padding your income by subletting your rental home on AirBnB?
Judging by how hard they are attacking this thread (seriously like half the comments are them), I am going to say yes. I don’t believe them denying it.
No. I own my own home and my mortgage costs less than average rent here, while my home has more than doubled in value, and I am sickened by that.
Because of systems like Airbnb adding to the scarcity. Do you not see that?
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You aren’t running a rental business in these cases, but supplementing your income by allowing someone into your home a few times per year.
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I find it so weird that your take is “only the wealthy deserve a home, period.” Like that’s such a hellish thing to say.
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… that they can’t afford.
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I don’t think that’s an ideal analogy. No-one sells meth legally.
It’s more like selling people food prepared in your uninspected and potentially unsanitary kitchen, and complaining about being told to comply with the food hygiene regulations that every licensed business is required to adhere to.
It is when the decision being made negatively impacts housing availability.
Lots of people on this site are radicals in one way or another and my radicalization is zoning policy and the housing market disruption is has caused.
I find this viewpoint fascinating. Like arguing that trying to put out a burning building will hurt poor people trying to keep warm.
The housing market as a whole is the problem, one which AirBnB is exacerbating. That it locally enriches those renters able to find people willing to rent out their homes – which I’m guessing is disproportionately going to be people without elderly family members & kids – doesn’t mean it isn’t detrimental to the housing market as a whole, particularly at the lower end, and to everyone who rents.
If you can afford to run a business you can afford to run a business properly.
Not if onerous regulations designed to solve problems that don’t exist are placed in your way by populist idiot laws.
Theoretically, any business could be legislated out of existence maliciously.
How is following basic fire code onerous?