New York:
Airbnb on Tuesday requested New York Metropolis to rethink laws on short-term leases that went into impact in September 2023, citing increased costs for vacationers and nil influence on the housing market.
In a weblog submit, Airbnb mentioned Native Regulation LL18, which states hosts should be everlasting occupants of the items being rented and should register with the town earlier than posting leases, has “didn’t fight the housing disaster”.
After the implementation of the legislation, the variety of Airbnb listings permitting stays below 30 nights has fallen 83%, based on an August report by information analytics agency Airdna.
Airbnb, citing information from Condo Listing, mentioned emptiness charges for flats in New York Metropolis have remained just about unchanged at 3.4% because the legislation took impact.
The corporate additionally mentioned the price of journey has elevated. Resort charges in New York Metropolis had been up 7.4% year-over-year in July, in contrast with 2.1% throughout the U.S., based on information from Co-Star, Airbnb mentioned.
“By rolling again components of the legislation, the town can improve the provision of lodging for shoppers, help resident hosts and revitalize native companies that rely on tourism {dollars},” Airbnb added.
The New York Metropolis mayor’s workplace and the Workplace of Particular Enforcement weren’t instantly out there for remark.
Final 12 months, a New York decide dismissed the corporate’s lawsuit towards New York Metropolis over the native legislation.
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