By September 5, short-term rental providers, including Airbnb hosts in NYC, will need to register with the city authorities or have a Class B status to continue hosting|Ivan Radic|CC BY 2.0
New York City regulators are cracking down on short-term Airbnb listings as it’s eating into the long-term rental market. As a result, thousands of Airbnb rental options in the city have vanished.
By September 5, short-term rental hosts in NYC will need to register with the city authorities or have a Class B status to continue hosting. Airbnb hosts must also abide by certain rules.
- Hosts cannot rent out the entire apartment or house, irrespective of ownership.
- Hosts must be present during the stay for short-term rentals.
- No more than two paying guests can take up the space at the same time.
- Guests must have unobstructed access to all rooms.
Fines for Airbnb and the host can range from $100 to $5,000 for not abiding by the regulations. The move comes at a time when an affordable housing crisis looms over the country.