New York's Airbnb cracks down raises concerns about inner city hotel prices

The new law only allows room rentals when the landlord lives in the apartment and is present during the entire stay.For more lifestyle news, go to theIf you've been trying to book an apartment for a short vacation in New York in recent weeks, you may have been surprised at how little is available on platforms like Airbnb or VRBO.

The new law only allows room rentals when the landlord lives in the apartment and is present during the entire stay. The visitors may number no more than two at a time, and they may not lock their room doors. "Many permanent residential buildings do not have adequate security personnel to deal with travelers," says the Office of Special Enforcement, charged with enforcing the ordinance passed in January 2022, after years of attempts to regulate the market.The city clearly has Airbnb in its crosshairs with the new law, and the San Francisco-based platform vehemently objects to the measure.

The organization RHOAR, which brings together small landlords of up to two homes, says that eliminating short-term rentals"will threaten owners' ability to cover their mortgages, possibly creating an additional housing crisis," and puts them"at acute financial and personal risk." "Almost everybody in the group owns their own home and... they bought it thinking they had the right to do whatever they wanted," she said.I guess price-conscious families aren’t huge spenders , so it won’t be a huge loss to the economy. But just…"Everybody's waiting to see what's going to happen next because no one can quite believe that this is a permanent change," she added.

"There are so many young people who visit New York who can't afford to stay in a hotel," said McCambley, the former Airbnb client."They're not going to be able to... pay $400 a night."Take a breather in your busy day with this curated collection of real-life stories, sitdown interviews, everyday tips and expert insights.

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New York City cracks down on Airbnb, other short-term rentalsIf you've been trying to book an apartment for a short vacation in New York in recent weeks, you may have been surprised at how little is available on platforms like Airbnb or VRBO. A city law went into effect this week that bans rentals for less than 30 days, leaving a good part of the 36,000 short-term tourist apartments in the city out of the rental game.
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