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IIRC, NYC and Jersey City already made Airbnbs illegal unless if it's owner-occupied. Outside of ultra-luxury apartments like 432 Park Ave, there isn't really t
by Aunche 4y ago
IIRC, NYC and Jersey City already made Airbnbs illegal unless if it's owner-occupied. Outside of ultra-luxury apartments like 432 Park Ave, there isn't really that much vacancy in NYC. Disincentivizing investing is a good way to make homes cheaper to buy, but it won't make renting any cheaper in places with already high demand.
We can discourage investments simply with more equitable property taxes. Currently, more expensive apartments are taxed at a much lower rate than cheaper ones.
https://www.bloomberg.com/graphics/2021-new-york-property-tax-benefits-rich/ https://www.bloomberg.com/graphics/2021-new-york-property-ta...
- mancerayder 4y agoIllegal for less than 30 days, right?
- Aunche 4y agoYeah. I think 30 days is a fair threshold because that weeds out the tourists but doesn't punish those with temporary job assignments and interns.
- mancerayder 4y agoIt's also a threshold for when tenant rights laws kick in.
- syspec 4y agoYou certainly couldn't tell by looking at AirBNB for Manhattan that < 30 day rentals are illegal. https://www.airbnb.com/s/New-York--NY/homes?adults=1&place_id=ChIJOwg_06VPwokRYv534QaPC8g&refinement_paths%5B%5D=%2Fhomes&checkin=2022-11-01&checkout=2022-11-04 https://www.airbnb.com/s/New-York--NY/homes?adults=1&place_i...