With new city legislation forcing landlords to register with the city in order to continue their listings on Airbnb, Vrbo, or comparable sites, the short-term rental sector in New York City is about to undergo significant changes. The maximum fine for infractions is $5,000.
Both advocates and opponents of the measure claimed that thousands of listings in the five boroughs that are intended to be vacant for 30 days or less would likely be canceled.
Gia Sharps Describes The Idea As "Terrifying"
Gia Sharp, a Sunset Park resident and co-founder of Restore Homeowner Autonomy and Rights, or RHOAR, described the idea as "terrifying."
However, according to Michael McKee of the Tenants Political Action Committee, thousands of homes that are currently being rented out briefly on platforms like Airbnb "would be returned to the residential rental market" over the course of the upcoming year, which would hopefully help ease the city's housing issues.
The Mayor's Office Of Special Enforcement Is Responsible For Upholding The Law
The Mayor's Office of Special Enforcement is responsible for upholding the law.
On its website, the office states that it will focus on collaborating with the booking platforms to ensure that they are using the city's verification system, that all verifications are occurring correctly, and that the platforms stop processing unverified transactions.
Theo Yedinsky, Airbnb's global policy director, claimed in a statement that the business has made an effort to develop sensible home-sharing regulations.
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