- cross-posted to:
- technology@lemmy.world
- cross-posted to:
- technology@lemmy.world
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.
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.
Are you, by any chance, padding your income by subletting your rental home on AirBnB?
Judging by how hard they are attacking this thread (seriously like half the comments are them), I am going to say yes. I don’t believe them denying it.
No. I own my own home and my mortgage costs less than average rent here, while my home has more than doubled in value, and I am sickened by that.
Because of systems like Airbnb adding to the scarcity. Do you not see that?