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New York’s Airbnb Ban Is Descending Into Pure Chaos
Oct 10, 2023
The aftermath of New York's Airbnb ban has led to the emergence of illegal short-term rentals on social media and lesser-known platforms. The podcast discusses the perspectives of stakeholders on the ban, the risks associated with off-platform rentals, and an alternative website to Airbnb called Howfy.
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Quick takeaways
- The implementation of a new law banning short-term rentals in New York City has resulted in a low compliance rate, with only around 2% of previous Airbnb listings being registered with the city.
- The crackdown on short-term rentals has led to a rise in illegal listings on social media and lesser-known platforms, creating a rental black market in the city and prompting people to seek alternative platforms to bypass regulations.
Deep dives
Low registration rate for short-term rentals in New York City
Since the implementation of a new law banning most short-term rentals in New York City, only around 2% of the previous 22,000 listings on Airbnb have been registered with the city. The number of short-term listings on Airbnb has dropped by more than 80%, but just 417 properties have been registered, indicating a low compliance rate. As a result, there has been a rise in illegal short-term rental listings on social media and lesser-known platforms, leading to the emergence of a rental black market in the city.
