With the implementation of Local Law 18, thousands of Airbnbs and short-term rentals will be deleted off the platform in New York City. The new law, which went into effect last Tuesday almost entirely bans these rentals in New York.
Going forward, all rental hosts have to register with the city, and only those who live in the place they’re renting and are present when someone is staying can qualify. While Airbnb, Vrbo, and other platforms can continue to operate in the city, the new rules make it so they practically can’t do business.
While the New York market is a small piece of Airbnb’s global revenue, the new rules showcase how local governments can effectively eliminate short-term rentals overnight. However, other neighborhoods around the world are also implementing rules like this one. For instance, in Quebec, Canada, and Memphis, Tennessee, a license is required for short-term rentals. In San Francisco, Paris, and Amsterdam, there is a limit to how long you can list your residence for rent.
As for whether or not the law will stick? Currently, Airbnb has tried to fight back to no avail, so only time will tell if the new law remains in place. For now, it’s best to plan your visit around staying in a hotel.
