Will Airbnb return to NYC? Bill would allow short-term rentals for 1- and 2-family homes.
Airbnb May Be Making a Comeback in NYC, but at What Cost?
A potential new measure is set to be introduced by Councilmember Farah Louis, allowing landlords to list their one- and two-family homes on Airbnb and other platforms aimed at tourists and temporary visitors. This comes after a city crackdown eliminated thousands of illegal short-term rentals last year.
What’s Behind the Bill?
Councilmember Louis introduced the bill to help homeowners facing rising costs. “These homeowners pursuing the American dream are being held back by a policy that treats them as though they are commercial enterprises,” she said in a recent Council hearing.
The Benefits of Short-Term Rentals
Airbnb has spent more than $1 million this year on advertising campaigns and lobbying efforts. Homeowners are also rallying behind the measure, saying it provides them with a way to earn extra income and use their properties in a more flexible way.
For many small homeowners, especially those on fixed incomes, short-term rentals have become a vital source of supplemental income. “Short-term rentals provided a way for us to make ends meet and maintain using our homes in a flexible way,” said Margenett Moore-Roberts, a Brooklyn homeowner.
The Consequences of Short-Term Rentals
Tenant activists, on the other hand, argue that this measure will worsen the city’s already-severe housing crisis. By incentivizing landlords to convert long-term rentals into short-term rentals, they fear it will reduce the availability of apartments for permanent renters.
“It’s a disaster,” said Mike McKee, treasurer of the Tenants PAC group. “There’s a ton of rental units that can be taken off the housing market and used for tourism at a time when New York City has had the tightest housing market in its history.”
Whitney Hu, director of civic engagement and research for Churches United for Fair Housing, believes the measure will especially harm Black and Brown communities. “This bill particularly puts Black and Brown communities in New York at greater risk of exploitation by the speculative market,” she said in a statement.
The Future of Short-Term Rentals in NYC
The city’s Office of Special Enforcement is currently reviewing the proposal. With no clear timeline for its decision, the future of short-term rentals in NYC remains uncertain. However, one thing is clear – this issue has the potential to have far-reaching consequences for the city’s housing market and its residents.