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Airbnb bookings dry up in New York as new short-stay rules are introduced
(www.theguardian.com)
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this post was submitted on 06 Sep 2023
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the issue is that it's not individuals renting out their homes, it's corporations that rent or purchase many apartments and then put them on air bnb. additionally, landlords leave apartments vacant for many months. both of these factors make renting harder and more expensive in nyc.
NYC is full of these apartment blocks where reasonable apartments got split into 3 or 4 tiny units designed specifically to be put on Airbnb. If they each get 3-4 bookings a month, that's way more money than would be made renting the whole apartments, which crushes the rental market and drives prices sky high. These measures Should have been implemented 10 years ago. Second best time is now.