- cross-posted to:
- technology
- cross-posted to:
- technology
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.
I don’t know how I feel about this. On one hand: I dislike the trend of commercial companies buying up living space to turn around and rent it out to disruptive short-term tenants.
On the other hand: I don’t want to have anyone else present in my rental with me because that’s creepy.
That’s the point.
If you and I stay in hotels, people who work there will be able to afford to live near there.
They want you back in a hotel
They are trying to address housing shortages. The hotels might benefit, but so does everyone else because it effectively bars commercial operation of AirBnB. No landlords with 50 units etc.
Really to drop housing prices you have to address the secondary mortgage market. More supply is a band aid.
This will not actually help with the housing shortage. It will even result in further evictions as some people lose the potential income of renting out excess space to get over the hump.
That is still allowed though. The host can rent out a spare room with up to 2 guests at a time. The host just has to live there.
So they register? There isn’t anything to indicate that hosts who plan to rent out a spare room and follow the rules won’t be approved.
When you register, you must comply with hotel-level standards.
I went and looked up the regulations.
https://rules.cityofnewyork.us/wp-content/uploads/2022/12/FINAL-RULES-GOVERNING-REGISTRATION-AND-REQUIREMENTS-FOR-SHORT-TERM-RENTALS-1.pdf
Host requirements start on the bottom of page 16. The requirements boil down to posting a fire exit diagram of the unit, keeping records, and not violating building or fire codes. Nothing in there that really seems that onerous, and is stuff that obviously protects the guests.
The horror.
https://www.bloomberg.com/news/articles/2023-09-05/airbnb-s-new-nyc-regulations-what-renters-and-hosts-need-to-know
Good?
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.
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
If you can afford to run a business you can afford to run a business properly.
From what I can tell this is to help make sure they follow the new rules
If those hypothetical people lose their investment houses then other people can buy them.
To live in.
People who aren’t living in their home will lose the home to eviction? Listen to my violin.
I want them back in a hotel too.
Yes, where they should be.
If you’re travelling somewhere then stay in a hotel, it’s what they’re for.
No thanks. Apartment rentals have existed for decades.
Just not nearly so many, and with so little regulation.
Regulation isn’t my job though. Just like those not paying tax isn’t my responsibility, but it should be sorted properly.
And why is that a bad thing?
It’s the same as ride-sharing … which, when it started, was advertised as a cheaper alternative to taxis/cabs but that’s no longer the case.
I use taxis instead od ride-share because taxis are regulated and they have to buy licenses. Does this make them better? Not really, but they are contributing to the local economy through the tax base … and that alone does make them better.
It is still cheaper.
I’ve stayed in plenty of Airbnb’s that the owners were on-site the whole time. It’s not bad at all. I even used Airbnb to rent out a spare room for a couple years and it wasn’t weird at all (except for the people who were much more comfortable with nudity than I was).
The time I visited NYC, the Airbnb I rented was a small apartment divided up into three rooms with other renters staying there. Same as if the owner was there, wasn’t a problem or creepy.