The Most Shocking Rules About NYC’s New Regulations On Airbnbs
Following NYC’s Short-Term Rental Registration Law, otherwise known as Local Law 18, that went into effect last September, more than 7,500 Airbnbs have vanished from the platform. The law requires that all short-term rentals must register with the Mayor’s Office of Special Enforcement in order for booking platforms to process payments.
Supposedly, the law intends to counteract rising rents and NYC’s housing crisis, that the city believes had been compounded by previous short-term rental regulations. Since going into effect, only 22% of the short-term rental applications have been approved by the OSE.
In order to be legal, all short-term rentals must comply with the below terms:
- The host must be present in the same unit during the visitors stay
- You can’t stay with more than two guests
- Entire apartments or homes cannot be rented out for less than 30 days
- All short-term rentals must be registered with OSE
To clarify, yes this means privacy in NYC Airbnbs have changed dramatically. Whereas you once were able to rent out entire units for you and your companion(s), visitors must now share the space with the host and are limited to travelers in pairs. This in turn makes Airbnbs virtually impossible for families (larger than two people) looking to stay in NYC.
For more details about Local Law 18, see here.
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