New York City, collaborating with platforms like Airbnb, is enforcing a law that requires short-term rental hosts to register with the Mayor’s Office of Special Enforcement. This law, effective from early 2022, aims to curb unregistered rentals, with platforms like Airbnb prohibited from processing transactions for unregistered properties.
Hosts now face stringent requirements, including being present during the guest’s stay and not renting out entire homes. Despite these restrictions, Airbnb, which has over 39,000 listings in New York City, views the regulation as a de facto ban. The city’s enforcement mirrors actions in other U.S. cities like Los Angeles and San Francisco, which also regulate short-term rentals. Meanwhile, Airbnb’s share price remains resilient, recently boosted by its inclusion in the S&P 500.