The “Big Apple’s” new regulations for Airbnb, Vrbo, and similar platforms could have broader consequences for the vacation rental industry.
The company called it a “de facto ban,” as the rule requires hosts listing their properties for short-term stays to register with the city or face up to a $5,000 fine.
The rule is meant to help enforce the prohibition against rentals of fewer than 30 days unless the host is present and with a maximum of two guests, which is largely ignored.