New York passes tough anti-Airbnb law

Heavy fines for advertising rental of vacant apartments
New York has enacted the toughest restrictions on Airbnb in the US. Enforcement could be difficult, but the law now puts a heavy fine on anyone advertising short-term rentals in blocks of apartments.
In the legislation, signed by Democratic New York Governor Andrew Cuomo, the fines can reach up to $7,500, despite a last-minute appeal by Airbnb.
The fines will be for advertising a vacant apartment in a multi-unit building for 30 days or less. However, renting spare bedrooms, row houses or single-family homes are exempt from the law.
Hotels praised the law, as did the Real Estate Board of New York, which said: “This legislation is an important step toward stopping illegal behavior that takes precious housing units off the market, threatens hotel workers’ jobs and hurts the quality of life for residents in our City’s multifamily buildings.”
Crain’s New York Business

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