New York state enacted one of the nation’s toughest restrictions on Airbnb on Friday with a new law authorising fines of up to US$7500 (10,500) for many short-term rentals.
The measure applies to rentals of fewer than 30 days when the owner or tenant is not present.
Supporters of the measure say many property owners use sites like Airbnb to offer residential apartments as short-term rentals to visitors, hurting existing hotels while taking residential units off the already expensive housing market in New York City.
Diddums for existing hotels. Competition is a good thing, not a bad thing.
Airbnb said it would immediately file a lawsuit challenging the law.
“In typical fashion, Albany backroom dealing rewarded a special interest – the price-gouging hotel industry – and ignored the voices of tens of thousands of New Yorkers,” said Josh Meltzer, Airbnb’s head of public policy in New York.
Protecting existing industries rather than consumers.