Good for AirBNB. This only helps hosts abiding by the law, by removing those who are breaking it.
Concur. “Rat out” is really a loaded term, isn’t it? Seems like Airbnb realizes it is best to be on good terms with NYC for when the STR market recuperates.
All kinds of legit businesses are regulated and taxed. I’m lucky to have been unregulated as long as I have been. When my time comes to play by the rules I either will or leave the game.
It will certainly be good news for the 25% of hosts who are operating legally in NYC.
Apparently this means Airbnb is about to lose an estimated 75% of its NYC listings.
Here is a follow up article
Airbnb will conduct a webinar June 29 to answer hosts’ questions.
@Lonestar we know that you’re disgruntled with AirBNB but I’d assume you’d applaud AirBNB for complying with the law.
Residents and Lobbyists can petition to change the law; and may actually do so, since rental vacancy rates in NYC are going up, as people move out.
With business and tourist travel down, and residents fleeing, this definitely works for those hosts who are hosting legally.
I am simply reporting news.
Somewhat, but your negative view toward AirBNB is apparent, by the topics that you curate.
The topics you curate
Arggh! No. Not the C word!
I refrained from using the F word* or the B word **
This seems to be a water shed moment. Toronto, Sydney, London, Paris etc. to fall in line as well. If that happens it will be fantastic news for the thousands of legitimate hosts in these major cities. For the multi-unit investors, however, it might be quite a painful adjustment. With 650.000 hosts and 6.1 Million listings on AirBnB, there is a lot of pain coming.
There was one story of a single host that had 250 units in one building. That’s just one story.
I have a permit to operate my place and pay taxes. No sympathy for those who do not.
I wonder if they will continue to litigate this city by city, or will they decide it’s more economical to just hand the data over upon request.
It’s all fun and games, till government starts taxing you because of the big hotel chains lobby.
I don’t think this is “play by the rules” nor this is good for Airbnb.
Government is not your friend.
We already pay our taxes. Our Hotel Occupancy Tax helps pay for things that tourists use such as cleaning up our beaches. In our state it can only be used to directly promote tourism which helps my business.
Agree 100%. Especially if the host has a rent-controlled apt or does not own and are violating their lease = All revenue belongs to the landlord, plus 100% of legal fees, plus 50-100% of penalties allowed by state.