Where is this happening? New York City
What’s happening? Short term rental company, AirBnB, agreed to track property owners who have are renting out multiple locations
Why does this matter? 2 reasons:
1. It typifies local ordinance quagmires over short term rental ordinances.
- Property owners like the free market principles of short term rentals to use their property as they see fit.
- Local governments, like NYC, want to address issues like exacerbating a lack of affordable housing
2. NY Legislature making short term rentals illegal by requiring all rentals to be for 30 days or more. The bill awaits the Governor’s signature.
New York Times | Airbnb Proposes Cracking Down on New York City Hosts