NYC Airbnb Bookings Stopped After New Rule Has Been Implemented

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Airbnb has taken a dip in accepting reservations in New York City after the company has released new regulations on short-term rentals. 

The new regulations were set in place to put an end to landlords and residents renting out their apartments on a nightly or weekly basis. The rules also state that rentals under 30 days are allowed if the host(s) registers their property with the city.

The host(s) must also be physically in the home for the duration of the rental, meaning they have to share the home with the guest. It also states that more than two guests are not allowed, including families. 

Housing advocates and officials say that these restrictions can put a stop to apartments becoming unofficial hotels.  “In New York City, residential apartments should be for residential use.,” Murray Cox of Inside Airbnb said.” 

The home-sharing company had fought the ban in court and said that it would be a problem for tourists looking for an affordable place to stay. Theo Yedinsky, Airbnb’s Global Policy director said that this move is a “blow to the thousands of New Yorkers and small businesses in the outer boroughs who rely on home sharing and tourism dollars to help make ends meet.”

He continued, “The city is sending a clear message to millions of potential visitors who will now have fewer accommodations options when they visit New York City: ‘You are not welcome.’” 

The company started following the rules on August 21st. What are your thoughts on this?