Airbnb restrictions in New York is spawning a black market for accommodations
12-10-23
Following the implementation of a new law banning most short-term rentals on Airbnb, just 2% of the 22,000 in New York have registered in the city.
When a new law banning most short-term rentals on Airbnb went into effect in early September, it has seen a significant impact on the New York market. According to data from the Inside Airbnb platform, the number of listings of short-term accommodations on Airbnb has dropped by more than 80%, from 22,434 in August to just 3,227 on October 1. However, only 417 properties have been registered with city hall, suggesting that few short-term rentals have obtained permission to continue operating legally.
In parallel to this decline in listings on Airbnb, there has been an increase in the promotion of illegal short-term rentals on alternative platforms and social networks, resulting in a rental "black market," according to Lisa Grossman, spokeswoman for local group Restore Homeowner Autonomy and Rights (RHOAR), who opposed the new law.