Good Luck Finding An Airbnb In NYC With This New Registration Law
Thousands of NYC Airbnb listings have vanished, following the implementation of NYC’s Short-Term Rental Registration Law. The ruling had been proposed in the fall of last year, but officially went into effect on Tuesday, September 5th.
The ruling even lead to Airbnb filing a lawsuit against NYC. “It is literally impossible for regular people to comply with the rules,” said Karen Dunn, Airbnb’s attorney, in a press conference earlier this summer. “These are regulations that experts will tell you no regular person could understand unless they had a history of working in building code engineering.” However, a New York judge waved the lawsuit after deeming that the Short-Term Rental Registration Law was “entirely rational.”
So let’s take a moment to get a better look at what this new law means for hosts and those looking to book a short-term stay in NYC…
What is NYC’s new ruling for short-term rentals?
The Short-Term Rental Registration Law, otherwise known as Local Law 18, requires short-term rental hosts to register with the Mayor’s Office of Special Enforcement (OSE). Without compliance and registration, transactions will no longer be processed through booking platforms including but not limited to Airbnb, VRBO, and Booking.com.
Booking platforms will work in tandem with Local Law 18 to certify that hosts are properly using the city’s verification system. Unverified transactions will not be processed on any of the platforms.
As of September 1, 2023, only 25% of 3,250 applications had been approved by the city, reported Bloomberg.
What other rules do hosts and guests need to know?
The new law also requires hosts to be physically present in the home while its being rented. Therefore, the host will be staying in the same apartment or home as the guest, simultaneously. Plus, there is a limit of two people staying in the rental at the same time—deterring larger families to ever book on Airbnb in NYC.
What else is there to know about Local Law 18?
In addition to registration, the OSE must maintain a list of buildings across the city in which short-term rentals are prohibited. Buildings may be prohibited for short-term rentals due to laws, leases, or occupancy agreements. Learn more about the Prohibited Buildings list here.
Why did the city pass the Short-Term Rental Registration Law?
The city has argued that the previous regulations surrounding short-term rentals like Airbnbs only compounded NYC’s imminent housing crisis, specifically “pushed up rents and helped fuel New York City’s housing shortage,” outlined The New York Times.
How do hosts register?
Hosts will have to provide one proof of identity and two proofs of permanent occupancy to register. They must apply via NYC’s Short-Term Rental Registration Portal.
Are there any exceptions?
Hosts of short-term rentals in “Class B” multiple dwellings that have already been approved by the city are not required to register under the new law. Additionally, if a unit is being rented for 30 consecutive days or more, registration is not required. Moreover, registration for rent-regulated units will not be approved by the OSE.
What happens to previous Airbnb bookings?
All previous reservations in short-term rentals that are not registered will be valid if they predate a December 1, 2023 check in. Reservations past that date will be canceled and refunded.
The post Good Luck Finding An Airbnb In NYC With This New Registration Law appeared first on Secret NYC.