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New York City Will Force Short-Term Rental Platforms to Disclose Information

July 19, 2018

By Donald Bender, Jennifer Safran and Christopher Schreiber

The New York City Council unanimously voted 45-0 on June 18th to restrict companies such as Airbnb and other online home rental platforms.

The law, which has been sent to Mayor de Blasio for his signature, aims to prevent landlords and tenants from illegally renting out apartments for a few days to tourists.

If signed, the new law would require disclosure of information to the New York City Office of Special Enforcement on a monthly basis, including:

  • Name of host
  • Physical address of hosts
  • Phone number
  • E-mail and profile URL of active hosts
  • Total number of days property was rented and fees that were paid to the rental platform

Violators of the law would face fines of at least $1,500 for any listing not disclosed to the city.  This law would help enforce a New York State law signed by Governor Cuomo on October 21, 2016 making it illegal to advertise rentals of less than 30 days of unoccupied apartments on rental platforms if the owner was not present.

Many in the hotel industry, who are losing valuable tourism dollars from short-term rentals on websites such as Airbnb, argue that these units are not held accountable to the safe regulatory environment in areas such as fire and safety, amongst other concerns.

This law adds to a growing number of cities such as San Francisco, Barcelona and Vancouver that have passed legislation to regulate online home-rental companies.

 


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Mazars USA LLP is an independent member firm of Mazars Group.

Legal and privacy policy    Contact us    Terms and Conditions