New York City Sees 70% Drop in Short-term Airbnbs Following Law Enforcement

In the wake of New York City’s enforcement of a new law mandating short-term rental operators to register their homes, there has been a substantial decline in available Airbnb listings. Data from Inside Airbnb, a housing advocacy group, reveals a sharp reduction of approximately 15,000 short-term listings between August 4 and September 5, marking a 70% decrease.

In August, there were around 22,000 short-term listings on Airbnb in New York City. As of September 5, this number dwindled to 6,841. It is worth noting that some of these short-term listings may have transitioned into long-term rentals, which do not require registration. The count of long-term rentals surged by about 11,000, totaling 32,612 during the same period.

While this shift towards long-term rentals may signify the efficacy of the law in encouraging hosts to offer accommodations for extended durations, it also addresses concerns related to high rents and housing instability in the city. Moreover, vacation rentals have been associated with issues like noise, litter, and disruption in residential areas.

Notably, only 28 short-term rentals in New York mentioned possessing a city registration number in their listings, according to Inside Airbnb. This starkly contrasts with the significant number of short-term rentals identified by the advocacy group, suggesting a gap in compliance.

To enhance transparency, hosts will be required to display registration numbers on their listings. The Mayor’s Office of Special Enforcement, overseeing the registration process, reported receiving 3,829 applications, with 290 approved, 90 denied, and 516 returned for corrections or additional information.

Despite efforts by Airbnb to block new short-term reservations for unregistered rentals, there are still listings that potentially breach the law. This raises concerns about enforcement and compliance in this evolving landscape.

As the city grapples with the intricacies of this new law, questions surrounding the true legality of Airbnb listings persist, leaving travelers in a state of uncertainty when booking accommodations in New York City.