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☆ NYC shuttered 80% of its Airbnbs in an attempt to make housing more affordable. All that's done so far is make hotels more expensive.
  + stars: | 2024-06-26 | by ( Eliza Relman | Dan Latu | ) www.businessinsider.com   time to read: +8 min
Read previewLast September, New York City began enforcing its strict new regulations on short-term rentals. Since then, the number of legal short-term rentals listed on Airbnb and other platforms has plummeted. Impacts of the near-banLL18 was motivated by the city's housing affordability crisis, caused in large part by a severe housing shortage. Short-term rentals, including Airbnbs, can take homes that would otherwise be lived in full-time off the market, potentially exacerbating the housing shortage. But there's some evidence, including from Irvine, California, that restricting short-term rentals can reduce rents.
Persons: —, it's, Jamie Lane, Lane, hasn't, Klossner, LL18, Eric Adams, TIMOTHY A, CLARY, Scott Stringer, Airbnb, It's, Nathan Rotman Organizations: Service, Business, Mayor's, Criminal, Special, York City, Hotel, Former, Big Apple, New Locations: New York City, New, York, Irvine , California, New York
☆ Airbnb listings in NYC to shrink as city cracks down on short-term rentals
  + stars: | 2023-09-05 | by ( Marnie Hunter | ) edition.cnn.com   time to read: +6 min
CNN —Travelers looking to rent an apartment for a few days in New York City will find slimmer pickings now that city officials have started enforcing new rules cracking down on short-term rentals. Airbnb has called the rules a “de facto ban” on short-term rentals (STRs) that will hurt hosts and the tourism economy. The requirements for approval are strict and follow laws that pre-date the new registration rules. Hanson said that long-term average hotel occupancy in New York City is between 80% and 85%, well above the national average between 62% and 67%. Thousands of listings across various booking sites will be affected as the new registration rules are enforced.
Persons: Airbnb, ”, Christian Klossner, Andrew Lichtenstein, ” Theo Yedinsky, Bjorn Hanson, Jonathan M, Hanson, ” Hanson, ” Airbnb Organizations: CNN, Travelers, NYC’s, Special, Expedia, New York, Tisch Center of Hospitality, New York University, isn’t, Marriott, Hilton, CNN Travel, Local Locations: New York, “, York, New York City, “ New York
☆ Up to 25% of NYC's Airbnb listings could disappear under a new law set to go into effect — here's what to know if you're a host or traveler
  + stars: | 2022-12-29 | by ( Travis Clark | ) www.businessinsider.com   time to read: +3 min
A NYC law set to go into effect in January requires Airbnb hosts prove they reside at the property. An estimated 10,000 — or 25% — of the city's Airbnb rental units could be shut down as a result. There are about 40,000 Airbnb listings in New York City, according to the unofficial database Inside Airbnb. Some real-estate investors turned their eye toward short-term rental properties during the pandemic, with short-term rental listings spiking by 19% from September 2019 to this September, according to AirDNA. Like the looming New York City rules, Atlanta requires short-term rental landlords to register with the city.
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