Under the new restrictions, short-term renters will need to register with the city and must be present in the home for the duration of the rental
Home-sharing company Airbnb said it had to stop accepting some reservations in New York City after new regulations on short-term rentals went into effect.
The new rules are intended to effectively end a free-for-all in which landlords and residents have been renting out their apartments by the week or the night to tourists or others in the city for short stays. Advocates say the practice has driven a rise in demand for housing in already scarce neighbourhoods in the city.
Under the new system, rentals shorter than 30 days are only allowed if hosts register with the city. Hosts must also commit to being physically present in the home for the duration of the rental, sharing living quarters with their guest. More than two guests at a time are not allowed, either, meaning families are effectively barred.
Oh my god, you have to register with the city, like every other landlord? Crazy.
Yes and this requires additional restrictions on the property that many people flat-out cannot afford.
Like what, exactly? If you can’t afford a fire alarm or sprinkler system, you really shouldn’t be running a rental business. Hell, if you can’t afford a fire alarm, you have much bigger problems than whether or not you can rent a room to a stranger.
You aren’t running a rental business in these cases, but supplementing your income by allowing someone into your home a few times per year.
If they can’t afford to sit on multiple empty houses due to increased AirBnB regulations, then they can always sell some of those assets back into the market. In fact, that’s the point of the regulation :P
The idea of some poor landlord barely scraping things together because their 50 rental properties (and thus millions of dollars worth of assets) are less profitable is preposterous
The idea is that a non-negligible amount of renters pad their rental income with AirBnB and are not actually landlords.
If you can afford to run a business you can afford to run a business properly.
Not if onerous regulations designed to solve problems that don’t exist are placed in your way by populist idiot laws.
Theoretically, any business could be legislated out of existence maliciously.
