New York City cracks down on Airbnb, other short-term rentals

The mayor's office wants to put an end to what it calls an illegal practice, which generates"noise, litter and personal safety" issues for permanent residents.personnel to deal with travelers," says the Office of Special Enforcement, charged with enforcing the ordinance passed in January 2022, after years of attempts to regulate the market.The city clearly has Airbnb in its crosshairs with the new law, and the San Francisco-based platform vehemently objects to the measure.

The organization RHOAR, which brings together small landlords of up to two homes, says that eliminating short-term rentals"will threaten owners' ability to cover their mortgages, possibly creating an additional housing crisis," and puts them"at acute financial and personal risk." "Almost everybody in the group owns their own home and... they bought it thinking they had the right to do whatever they wanted," she said.Malaysia's Forest City teeters over China property giant woes

"There are so many young people who visit New York who can't afford to stay in a hotel," said McCambley, the former Airbnb client."They're not going to be able to... pay $400 a night.""They're eliminating competition," says his son Luke McCambley, 33, who during the pandemic rented out his own apartment to supplement his income.

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