A year after New York City’s Local Law 18 took effect, Airbnb is urging the city to reconsider the stringent regulations. The law, which requires short-term rental hosts to register and bans rentals of less than 30 days unless the host is present, has led to an 83% drop in Airbnb listings in the city. While the law was intended to ease the housing crisis, Airbnb argues it has not achieved this goal. Despite these regulations, rents have continued to rise, and Airbnb’s revenue from the city has significantly decreased.
Airbnb
