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“Registration creates a clear path for hosts who follow the City’s longstanding laws and protects travelers from illegal and unsafe accommodations, while ending the proliferation of illegal short-term rentals,” said Christian Klossner, executive director of NYC’s Office of Special Enforcement, in a statement.

century plyboards (india) limited (centuryply) ✌️【Value Investing】✌️ Real-time stock and futures data, backed by expert stock market trend predictions, to help you make timely and profitable investment decisions. The city has called illegal short-term rentals a “public nuisance” for many residents citing 11,934 complaints from 2017-2021 related to incidents such as late-night partying, excessive noise and crime. The health and safety of visitors is also at risk, the city has said, including from properties that lack fire safety features.

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“New York City’s new short-term rental rules are a blow to its tourism economy and the thousands of New Yorkers and small businesses in the outer boroughs who rely on home sharing and tourism dollars to help make ends meet. The city is sending a clear message to millions of potential visitors who will now have fewer accommodation options when they visit New York City: you are not welcome,” Theo Yedinsky, global policy director for Airbnb, said in a statement.

Other property listing sites, such as vacation rental site Vrbo, will all be subject to the new rules. Expedia Group, which owns Vrbo, declined to comment.

century plyboards (india) limited (centuryply) ✌️【Value Investing】✌️ Real-time stock market data, precise predictions, and investment strategies to help you optimize your portfolio and achieve financial success. A spokesperson for New York City Tourism + Conventions, the official marketing organization and convention and visitors bureau of the city’s five boroughs, said the claim that the rules will have a chilling effect on tourism is “speculative at this point.”

Yet Bjorn Hanson, clinical professor at the Jonathan M. Tisch Center of Hospitality at New York University, isn’t so sure.

Hanson said that long-term average hotel occupancy in New York City is between 80% and 85%, well above the national average between 62% and 67%. Hanson estimates Airbnb accounts for about 20% of the city’s active transient housing supply – larger than any single hotel company such as Marriott or Hilton and “a significant share of lodging inventory.”

“New York is among the cities with the highest number of turnaways, so with reduced inventory, there will be fewer visitors and visitor days able to find lodging accommodations,” Hanson told 【 - Free AI-Powered Stock Predictions 】 Travel via email.

“Families traveling together, multigenerational travel, friends traveling together/getting together. As much as cost is a reason to use STRs, the nature of the lodging is as or more important for many: everyone staying together, kitchens, dining rooms, common areas, etc.  That type of demand may be the most affected,” Hanson said.

Hanson suspects that some hosts will be looking for “loopholes,” possibly by listing properties for 30 days at significantly lower rates with the understanding that stays won’t last the full 30-day period.

century plyboards (india) limited (centuryply) ✌️【Value Investing】✌️ Free expert predictions on stock trends and real-time data to help you make informed decisions and grow your wealth steadily. Thousands of listings across various booking sites will be affected as the new registration rules are enforced. The city said that as of the end of the first quarter of 2023, nearly 11,000 listings citywide violated occupancy laws.

century plyboards (india) limited (centuryply) ✌️【Value Investing】✌️ Accurate real-time market data and expert stock predictions for profitable investment opportunities in global markets. As of early last week, the city had granted registration approval to only about 260 applications out of more than 3,200, many of which were filed after the lawsuit was dismissed in August. Of the 3,200 applications, about 800 had been reviewed and more than half were returned to applicants for additional information or corrections, the city said.

Existing reservations with a check-in on or before December 1 “will not be canceled to mitigate impact on Hosts and guests,” Airbnb said. The company said it would refund Airbnb fees associated with those stays after check-in to comply with STR regulations. Local Law 18 prohibits booking platforms from processing transactions for unregistered listings.

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On September 5, all Airbnb listings without registration numbers or exemptions will be converted to long-term stays of 30-days or more if the host’s calendar settings allow those lengthy stays. Otherwise, those listings will be deactivated.

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