What Does Banning Short-Term Rentals Really Accomplish?

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Concerns that short-term rentals fueled by platforms like Airbnb have caused long-term rents to rise in major cities has caused some governments to place limits, including bans, on them.

But research of New York City found that short-term rentals arethe biggest contributor to high rents, especially when it comes to the most vulnerable segments of a city’s residents. Given that short-term rentals have benefits, bans are a poor solution.Cities around the world have seen rising house prices and rents and an influx of tourists over the past decade.

Short-term rental laws vary, with the most stringent resulting in almost complete bans. That’s the case in New York City, wherenow requires hosts to register with the city, be present in the residence while hosting, and host at most two travelers.is the Glenn and Mary Jane Creamer Associate Professor of Business Administration at Harvard Business School and co-principal investigator at the Platform Lab at Harvard’s Digital Design Institute .

 

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