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NYC's short-term rental ban slashed Airbnb listings. A year later, it's unclear if it's made housing more affordable. Eliza Relman,Dan Latu. October 16, 2024 at 11:58 AM.
(Reuters) - Airbnb on Tuesday asked New York City to reconsider regulations on short-term rentals that went into effect in September 2023, citing higher prices for travelers and zero impact on the ...
Short-term rental (STR) describes furnished self-contained apartments or houses that are rented for short periods of time. [1] They are usually seen as an alternative to hotels . "Short stay" rentals are an offshoot of the corporate housing market, [ 2 ] and are also offered by private owners and investors via online platforms such as Airbnb .
A New York judge on Tuesday dismissed Airbnb's lawsuit against New York City over legislation it called a "de facto ban" against short-term rentals on Tuesday. Justice Arlene Bluth of a state ...
Rental vacancy rates, for example, which are one marker of the balance of housing supply, have declined across the country. While, in a balanced market, rental vacancy rates should fall between 7 and 8 percent, only one U.S. census region, the South, achieved target levels on average in its metro areas as of 2021.
New York City, Chicago and other cities have introduced restrictions on short-term rentals, though regulation is not always strictly enforced. [15] The City of Portland, for example, does not allow rentals of less than 30 days in residential zones but according to local vacation property managers such as Vacasa, the average guest stays 3-10 nights.
In March 2016, affordable housing advocates in New York City were pleased when a judge ruled that an Upper West Side SRO facility (the Imperial Court Hotel) could not rent out rooms for less than 30 days, a short-term tenure that would favour tourist rentals over lower-income long-term renters. [30] In New York City, some public figures have ...
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