New York City bans rentals for stays shorter than one month starting September 5, 2023. This rule also covers rentals found on apps like Airbnb.
Property owners must get city approval to list stays under 30 days. Short stays are okay if the owner lives in the house with two or fewer paying guests.
The city aims to balance rental prices and reduce housing shortages with this rule.
Violating owners could face fines of up to US$5,000. Platforms may get a US$1,500 fine for listing illegal rentals.
Guests with bookings before December 1 can still stay. Bookings from December 2 will be canceled and money returned.
Context
The city has a long history of housing challenges. New York is known for its expensive rent and small living spaces.
For years, people have been looking for affordable options. Apps like Airbnb became popular as a result.
Yet, some argue this has led to fewer long-term rental options.
Tourism is significant in the city. Short-term rentals have always been in high demand. But not everyone is happy with this trend.
Residents complain about the noise and disruption. Lawmakers have debated on this issue for years.
This isn’t the first rule aimed at rentals. In 2010, a law limited certain types of short-term housing.
Hotels have been lobbying for stricter rules for years. They claim services like Airbnb are unfair competition.
This rule also reflects global trends. Other cities have enforced similar bans. For example, Paris and San Francisco have their own rules about short-term rentals.
This new policy is one of many efforts to make housing more accessible for everyone.