New York faces a housing shortage that is no stranger to Airbnb. According to an article by Curb Published May 18, Although there are several laws banning short-term rentals in apartment buildings, the city has far fewer apartments for rent than Airbnb rentals. The company is often blamed.
The concrete jungle lacks housing
A report by Douglas Elleman, a US real estate company, revealed that the neighborhoods of Manhattan, Brooklyn and part of Queens have only 7,669 homes for rent. Aside from Airbnb apartment and home rental numbers estimated by AirDNA and Inside Airbnb, two third-party websites that retrieve data from the housing service. These estimates are respectively 10,572 and 20,397 dwellings.
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In 2011 New York had already set short-term rents, less than 30 days, in apartment buildings without the owner being present. It also made it illegal to post such ads in 2016.
Some owners use the buildings attached to their main residence for year-round rental. according to Curb10 years ago, this type of accommodation was more available to people looking to rent for the long term.
An Airbnb spokesperson responded to Curb” Over the past two years the pool of rents we include in the city has declined and is just a fraction of the percentage of rental units in the city as rental prices tend to increase and permits issued by the city for new housing construction are still double digits “.
Airbnb’s principle raises many questions
Since Airbnb’s creation in 2008, real estate market regulators have accused the California company of monopolizing available housing, impoverishing real estate stock and driving up rental prices in large cities. In Manhattan, the median rental price was $3,925.
Known problems in France. Since 2019, the legal limit for renting a property is 120 days per year. Anne Hidalgo, Mayor of Paris, said she was not against casual rent, but that this huge and multiple rent had deprived the city’s residents of housing.
Paris has already sued Airbnb for posting rental ads that do not comply with French law. French law requires individuals wishing to rent their residence to provide their advertisements with a registration number to inform the city of their rental practices. Many of the ads posted on the rental giant’s website and app don’t contain one.
Since July 1, 2021, if a seasonal furnished rental declaration is not registered in a large city (Paris, Lyon, Lille, Marseille, Nantes, Nice, Strasbourg and Toulouse), the lessor will be liable to a fine of €5,000 per dwelling and €12,500.